Delaware Plans to Include Stablecoins in Bank Regulatory Framework

CycleProphet · 2026-03-24T05:20:44+00:00

Two Delaware lawmakers have introduced the "Banking Modernization Act" and the "Payment Stablecoin Act," which aim to establish a licensing framework for stablecoin issuers, strengthen regulatory and compliance requirements, and promote the modernization of financial services. The governor stated that this move will attract new industries and enhance financial convenience for residents.

CycleProphet

2026-03-24 05:20:44

Abstract generation in progress

Deep Tide TechFlow News, on March 24, reported that two Delaware legislators introduced the Delaware Bank Modernization Act (Senate Bill 16) and the Delaware Payment Stablecoin Act (Senate Bill 19), aiming to establish a licensing framework for stablecoin issuers.

The Stablecoin Act proposes to implement licensing requirements for stablecoin issuers and digital asset service providers operating in Delaware, adopting relevant definitions and provisions from the U.S. federal GENIUS Act, and setting regulatory requirements such as reserve shortfall remedies, mandatory redemption timeframes, capital requirements, and anti-money laundering obligations. If approved, the State Banking Commissioner will be responsible for implementing the relevant rules within a specified period. The Bank Modernization Act mainly updates corporate governance for traditional financial institutions and introduces a definition for digital assets to enhance regulatory clarity. Both bills are currently pending review by the Senate Banking Committee and debate in the full Senate.

Delaware Governor Matt Meyer stated that this legislation aims to attract future industries and provide residents with more convenient financial services.

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