Delaware lawmakers introduced two new bills aimed at regulating stablecoin issuers and digital asset firms within the state.
The proposed legislation signals a push to bring digital asset activity under clearer state-level supervision.
Senator Spiros Mantzavinos and Representative Bill Bush led the introduction of the bills on Monday.
Both measures have been referred to the Senate Banking Committee and are currently awaiting further review.
One proposal, known as SB 19 or the Delaware Payment Stablecoin Act, focuses on creating a licensing framework for stablecoin issuers.
The bill also applies to digital asset service providers operating for or on behalf of Delaware residents.
SB 19 incorporates definitions aligned with the federal GENIUS Act to maintain consistency with national standards.
It outlines strict requirements including reserve backing, redemption timelines, and capital thresholds.
The legislation also introduces anti-money laundering rules and data privacy protections for users.
A pathway allowing firms to transition from federal to state charters is also included in the proposal.
Alongside this, SB 16, titled the Delaware Banking Modernisation Act of 2026, aims to update existing banking laws.
The bill proposes amendments to Title 5 of the Delaware Code to formally define digital assets and virtual currency.
It seeks to expand the authority of the State Bank Commissioner in overseeing emerging financial technologies.The measure clarifies that digital assets fall under “personal property” within fiduciary law.
This change would allow state-chartered banks and trust companies to manage digital assets on behalf of clients.
"It's been more than four decades since we've made any meaningful updates to our state's banking laws, and in that time, the way people bank and conduct transactions has changed significantly. We need to make sure our laws are keeping up with those changes. These bills help us do just that by modernising our system while reinforcing strong protections for consumers,"
Bill Bush said.
Lawmakers are also preparing an additional proposal titled the Delaware Money Transmission & Virtual Currency Modernisation Act.
The upcoming bill is expected to be introduced in the coming days as part of a broader regulatory effort.
It is based on model legislation developed by the Conference of State Bank Supervisors.
The framework aims to replace current money transmission laws with a more unified system.
It will focus on standardising licensing processes and improving coordination between states.
The proposal also intends to strengthen consumer protection measures across digital financial services.
Delaware’s latest moves reflect a growing trend among states seeking clearer oversight of the digital asset sector.