Delaware to introduce stablecoin regulation bill…race to attract digital-asset businesses intensifies

The U.S. state of Delaware is moving to attract the digital-asset industry by advancing financial modernization legislation that includes stablecoin regulation.

According to Cointelegraph on the 24th (local time), Delaware State Senate lawmaker Spiros Mantzavinos and State House lawmaker Bill Bush jointly introduced the “Delaware Payment Stablecoin Act (SB19)” and the “Bank Modernization Act (SB16).”

The stablecoin bill centers on establishing a licensing regime for issuers and digital-asset service providers. The legislation is designed based on federal stablecoin proposals including the GENIUS Act, and includes measures to address reserve shortfalls, standards for redemption timelines, capital requirements, and anti-money-laundering (AML) obligations.

If enacted, the Delaware Office of the State Bank Commissioner is expected to move to implement detailed regulations within a set period.

The bank modernization bill focuses on revamping existing financial regulations while also clearly defining digital assets to strengthen linkages with traditional finance. The aim is to reduce legal uncertainty surrounding digital assets.

Delaware has previously pursued blockchain-friendly policies, but concerns have been raised that its competitiveness has weakened amid a recent exodus of some companies. The latest legislative package is seen as a strategic step to lure related firms back.

Meanwhile, the bills will proceed to floor deliberations after review by the Senate Banking Committee, and a separate bill is also expected to be introduced to overhaul rules for virtual-asset remittances and the licensing framework.