People In THIS State Can Make Everyday Transactions In Gold And Silver; Precious Metals Are Now Legal Tender
photoDetails english 2907683 https://zeenews.india.com/photos/business/people-in-this-state-in-usa-can-make-everyday-transactions-in-gold-and-silver-precious-metals-are-now-legal-tender-2907692 Updated:May 29, 2025, 10:12 AM IST Florida passes HB 999 Making Gold, silver legal for transactions
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The government of Florida has signed a bill that will allow gold and silver as legal tender for everyday transactions. This law will authorise money services businesses to accept gold and silver coins as payment. Florida CS/HB 999 Law
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Florida Governor Ron DeSantis signed CS/HB 999 into law on Tuesday. With this move, Florida has become the first major US state to recognise gold and silver as legal tender for regular transactions. Florida Transaction In Gold
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Speaking during a press conference, DeSantis said, 'We are the first large state to step up and to get this done.' DeSantis added that the law would allow money service businesses, such as PayPal and check cashers, to send and receive payments in precious metals. 'This is right out of the Constitution of the United States. This legislation will authorise money services businesses to accept gold and silver coins that meet specific purity standards,' he said. The law supports inflation-proof assets
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According to DeSantis, the law supports inflation-proof assets. In a post on X, DeSantis said, 'HB 999 will give Floridians greater financial freedom and more tools to safeguard their hard-earned money. Moreover, this legislation supports inflation-proof assets, so Floridians' wealth is not at the whim of our federal government's reckless spending addiction.' Sales tax exemption
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Under the bill, gold and silver coins that satisfy certain purity requirements will be accepted as legal money and will not be subject to sales tax. The move aims to promote the wider adoption of precious metals as a functional currency in everyday transactions. Centralised currency control
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DeSantis presented the bill as part of his larger initiative to challenge centralised authority over financial transactions. Gold and silver legislation
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'This legislation ensures that gold and silver can start functioning like real currency again—not just investment vehicles for the wealthy,' DeSantis said.
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