Delaware Moves to Establish State Framework for Stablecoin Issuers
Delaware has introduced Senate Bill 19, the Delaware Payment Stablecoins Act, to establish a regulatory framework for payment stablecoin issuers. The bill sets licensing, reserve, custody, and disclosure requirements for companies issuing stablecoins to Delaware residents. It aims to make Delaware a leading jurisdiction for stablecoin issuers by providing state-level oversight aligned with the new federal GENIUS Act, which allows state-chartered issuers to operate if state rules meet federal standards. The bill mandates that issuers maintain full, cash-equivalent reserves, publish monthly reserve reports, and fulfill redemption requests promptly. Licensing options include a payment stablecoin issuer license or a digital asset service provider license. Issuers are barred from offering interest on stablecoins unless allowed by federal law. The initiative positions Delaware to attract digital asset firms by providing a consumer-protective, competitive framework consistent with federal regulation.
