On May 12, 2022, Florida Governor DeSantis signed CS/HB 273, a big win for businesses dealing with virtual currencies. The bill goes into effect starting Jan. 1, 2023, updating Chapter 560 of the Florida Statutes to clarify which businesses need to acquire a license from the Florida Office of Financial Regulation (OFR) as Money Services Businesses (MSB). It also updates the definitions of a few key terms within the state’s MSB law (Chapter 560), easing the burden on two-party virtual currency sellers, like Bitcoin ATM owners. These Bitcoin ATM owners still require compliance with federal regulators like FinCEN through the Bank Secrecy Act.