Delaware Proposes Stablecoin Regulatory Bill to Establish Licensing System Under Banking Framework

SmartContractAuditor · 2026-03-24T05:16:37+00:00

Delaware state senators and representatives have submitted the "Delaware Banking Modernization Act" and "Delaware Payment Stablecoin Act," aimed at establishing a licensing framework for stablecoin issuance and digital asset services, lowering barriers to entry for financial services. These bills will undergo review and debate, and are intended to promote residents' use of the internet for financial transactions.

SmartContractAuditor

2026-03-24 05:16:37

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Odaily Planet Daily reports that Delaware State Senators Spiros Mantzavinos and Bill Bush have introduced the “Delaware Banking Modernization Act” (Senate Bill No. 16) and the “Delaware Stablecoin Payment Act” (Senate Bill No. 19). The stablecoin bill aims to establish a licensing framework for stablecoin issuers and digital asset service providers, adopting relevant definitions from federal laws such as the GENIUS Act, and proposes reserve remedies, mandatory redemption timeframes, capital standards, and anti-money laundering obligations. If approved, the State Banking Commissioner will implement related rules within a specified timeframe.

Delaware Governor Matt Meyer stated that the legislation aims to lower barriers to financial services, allowing all residents to perform remittances, payments, and savings via the internet. The state launched a blockchain initiative in 2016 to attract related businesses, but last year, some tech and crypto companies, including Coinbase, moved out of the state.

Additionally, the two bills still need to be reviewed by the Senate Banking Committee and debated by the full Senate. Lawmakers will also submit the “Delaware Money Transmission and Virtual Currency Modernization Act” in the coming days, focusing on consumer protection and standardization of licensing activities.

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