Delaware lawmakers introduce bills to license stablecoin issuers, digital asset firms

Delaware is taking steps to regulate digital assets with the introduction of two bills. Senate Bill 19 (SB 19), the Delaware Payment Stablecoin Act, would establish a licensing regime for stablecoin issuers and digital asset service providers. It aligns with the federal GENIUS Act, setting standards for reserves, redemption, capital requirements, and anti-money laundering measures. Simultaneously, Senate Bill 16 (SB 16), the Delaware Banking Modernization Act of 2026, amends state code to include definitions for “digital asset” and “virtual currency,” expanding the State Bank Commissioner’s authority and allowing state-chartered banks to handle digital assets as fiduciaries. Lawmakers are also considering a third bill, the Delaware Money Transmission & Virtual Currency Modernization Act, based on model legislation from the Conference of State Bank Supervisors, to standardize licensing and enhance consumer protection. Representative Bill Bush emphasized the need to update banking laws to reflect modern financial practices and ensure consumer safety.

(Source：The Block)