In July, the state ordered a dozen ATMs that sell crypto in exchange for cash — including Cash Cloud, Coin Now and DigiCash — to register as money transmitters, despite calls from the companies, documents obtained by The Times show.
Last year, Mr. Aloupis introduced the bill to exempt bipartisan crypto transactions, following lobbying from Mr. Armes and a trading group he leads, the Florida Blockchain Business Association. (Its members include Binance, the major crypto exchange.) The bill failed to pass Senate approval and was resubmitted for this year’s session.
Russell Weigel, the commissioner of the Office of Financial Regulation in Florida, said he supported the legislation Mr Armes had advocated.
“If I go shopping at your grocery store, it’s a transaction between two parties,” Mr. Weigel said. “Do I need a permit for that? It seems absurd.”
Lobbyists for Blockchain.com, a cryptocurrency exchange that moved from New York to Miami last year, and Bit5ive, which manufactures crypto mining equipment in the Florida area, joined in and contacted dozens of state lawmakers.
“They are very pro crypto,” Robert Collazo, the Bit5ive chief executive, said of lawmakers in Florida.
Going forward, the company plans to raise money for crypto-friendly lawmakers in Florida, said Bit5ive lobbyist Michael Kesti. The Florida Blockchain Association’s Director of Legislative Affairs Jason Holloway is already walking in front of the State House, with donations – some in cryptocurrencies – by Mr Armes and others.
“I don’t want it to look like we’re paying for the influence,” said Mr. kesti. “But we do want to support them.”
