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Florida Needs to Lean Forward on Cryptocurrency

Nov 1, 2024, 14:55 by Chip Beal

This week, I issued a letter to the State Board of Administration (SBA) requesting a report on the feasibility, risk, and potential benefits of direction a portion of state retirement system monies into cryptocurrency. I am a firm believer in the fact that Florida is in its prime, with a Triple A bond rating for the fifth year in a row, record reserves, and we are outpacing the country in nearly every economic metric. Cryptocurrency is just another avenue for Florida to lean forward and lead the way. It is essential that we as a State stay ahead of the curve when considering new investments and providing the best returns for Floridians. 

On Thursday, I was honored to announce a priority initiative to develop a statewide business court in Florida to support small businesses and job creator statewide. As a former small business owner myself, I understand firsthand the intricate challenges of running a business - navigating complex regulations, overcoming layers of red tape, and sometimes just working to make payroll. A statewide business court will work to create a more favorable environment for businesses of all sizes to thrive in Florida. It will also ease the burden on our current court system, allowing complex cases to be handled by industry experts, freeing resources to serve the public more effectively and reducing the strain on an already overloaded system. 

Lastly, this week I had the pleasure of touring the Palm Beach County Fire Rescue Training Facility. It was an honor to see where these heroes learn the life-saving skills needed to protect our communities and conduct Urban Search & Rescue training mission in preparations for storms. As Florida's State Fire Marshal, I am proud to stand with these men and women who tirelessly serve our state in its most challenging moments. We will continue to ensure they have the resources, training, and equipment they need to safely and effectively carry out their essential duties. 

 

Sincerely,

Patronis' Signature

Jimmy Patronis
Chief Financial Officer
State of Florida

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