Delaware Introduces Stablecoin Bill With New Licensing and Reserve Rules

Highlights:

• The Delaware stablecoin bill introduces rules for issuers and service providers in the state.
• The bill requires full reserve backing to protect stablecoin users.
• Lawmakers introduced the bill to update the outdated banking laws in the state.

Delaware lawmakers have introduced Senate Bill 19 to regulate stablecoin issuers and digital asset firms operating in the state. The bill sets out how companies can issue payment stablecoins and interact with users. Lawmakers included licensing, reserve backing, and compliance requirements in the proposal. They also aligned the framework with federal standards under the GENIUS Act.

🚨NEW: DELAWARE BILL MANDATES 1:1 RESERVES FOR STABLECOIN ISSUERS

Delaware has unveiled new legislation to regulate stablecoins. The bill places issuers under a state banking structure.

The proposed law requires full reserve backing. Each issued stablecoin must be matched… pic.twitter.com/IaZ2AkG5ZF

— BSCN (@BSCNews) March 24, 2026

Senator Spiros Mantzavinos and Representative Bill Bush filed the bill under a broader financial reform package. Governor Matt Meyer backed the proposal and said residents should access financial services through simple digital tools. He added that the plan could expand job opportunities and attract new companies.

Lawmakers also introduced Senate Bill 16 to update the existing banking laws. The bill revises governance rules and clarifies how banks handle digital assets. It adds definitions for digital assets within the state banking code.

Delaware Stablecoin Bill Defines Licensing and Compliance Structure

Senate Bill 19 establishes a licensing framework for stablecoin issuers and digital asset service providers. The bill outlines three categories, including issuer, service provider, and combined operations. The Delaware State Bank Commissioner will grant licenses and check compliance. The office will also do examinations and impose penalties where applicable.

The bill will ensure that issuers have full reserve support on all stablecoins in circulation. Firms are required to maintain U.S. dollars, cash equivalents, or short-term Treasury instruments. The law demands an immediate response should reserves drop below the required level. The issuers are required to reconcile balances through a specified remediation process.

The bill also mandates companies to segregate customer funds from company assets. The purpose of this rule is to avoid abuse and preserve user balances. Moreover, firms are required to post monthly reports, which indicate reserves and overall token supply. These reports have to be verified by independent accounting firms before publishing.

The proposal obligates firms to adhere to anti-money laundering provisions in the Bank Secrecy Act. Companies are required to perform identity verification and keep tabs on suspicious activity. All licensed entities under the bill are subject to these requirements.

The bill does not allow issuers to provide yield or rewards to hold stablecoins. This rule was added by lawmakers to sustain clarity between payment instruments and deposit products. The proposal also prescribes a minimum capital requirement of $5 million. The companies should also keep sufficient funds that will sustain one year of their operating costs.

U.S. Lawmakers Expand Focus on Digital Asset Policy Direction

Delaware lawmakers introduced Senate Bill 19 and referred it to the Senate Banking Committee for review. The bill will move to a full Senate vote after committee consideration. Lawmakers also confirmed plans to introduce the Delaware Money Transmission and Virtual Currency Modernization Act. That proposal will focus on licensing standards and consumer protection across digital financial services.

At the federal level, Senator Bill Cassidy said he will advance legislation to update crypto tax rules in the United States. He introduced the bill with Senator Cynthia Lummis to address gaps in the current tax treatment. The proposal includes a $300 exemption for small crypto transactions. It also removes double taxation for miners and staking participants.

It is important for America to be in the driver’s seat on digital assets for both our economy and our national security.

That’s why I’m pushing to advance my bill to bring our crypto tax rules into the 21st century and make it easier for Americans to use digital assets without…

— U.S. Senator Bill Cassidy, M.D. (@SenBillCassidy) March 23, 2026