Delaware Lawmakers Introduce New Bills to Regulate Stablecoins and Digital Asset Banking

Delaware lawmakers have introduced new bills to bring digital assets under state oversight. This signals a significant push towards modernizing financial regulations in the state. The proposals were introduced by the Chair of the Senate Banking, Business, Insurance, & Technology Committee, Senator Spiros Mantzavinos, and Representative Bill Bush. 

The bills are created to regulate stablecoin issuers and expand the role of banks in managing digital assets. 

Stablecoin Licensing Framework Introduced

One of the bills, known as the Delaware Payment Stablecoin Act (SB19), would establish a licensing framework for stablecoin issuers and digital asset service providers operating with or on behalf of Delaware residents. It outlines requirements such as reserve backing, capital requirements, anti-money laundering compliance, and consumer data protection. It also includes a federal-to-state charter conversion pathway. 

The second proposed bill, the Delaware Banking Modernization Act of 2026 (SB16), would update long-standing banking laws by formally recognizing digital assets as “virtual currency.” It also allows state-chartered banks and trust companies to hold and manage these assets in a fiduciary capacity. 

Lawmakers say the reforms are long overdue, noting that banking laws have not seen major updates in over 40 years. Additional legislation is also expected soon, aiming to standardize money transmission laws and strengthen consumer protections across the digital finance sector.