Delaware lawmakers have introduced new legislation to regulate stablecoins as part of a broader effort to modernise the state’s banking framework.
The package includes the Delaware Payment Stablecoin Act, which proposes a licensing regime for stablecoin issuers and digital asset service providers operating in the state.
“This legislative package sends a signal loud and clear: here in Delaware, we’re democratising our financial services and lowering the barriers to entry,”
Said Governor Matt Meyer.
The bill outlines key requirements such as reserve backing standards, redemption timelines, capital rules and anti-money laundering obligations.
The initiative forms part of a wider update to Delaware’s banking code, marking the first major overhaul since 1981 and introducing formal definitions for digital assets.
Lawmakers aim to attract crypto firms back to the state after some, including Coinbase, relocated due to regulatory concerns.
The proposals remain in early stages and will undergo committee review and legislative debate before any potential enactment.