Delaware Payment Stablecoins Act (SB 19)

The Delaware Payment Stablecoins Act is a pending Delaware General Assembly bill introduced as Senate Bill 19 in the 153rd General Assembly. The current legislative vehicle is Senate Substitute No. 2 for SB 19, with House Amendment No. 1 attached. As of June 9, 2026, the official bill page listed the measure in House Appropriations, so it should be treated as a pending bill rather than an enacted Delaware law.

What the Delaware Payment Stablecoins Act would do

SB 19 would amend Title 5 of the Delaware Code by creating Chapter 35, the “Delaware Payment Stablecoins Act.” The bill is designed to create a licensing and supervisory framework for payment stablecoin issuers that issue tokens to or on behalf of Delaware residents. Its stated purpose is to align Delaware’s framework with the federal GENIUS Act and related OCC implementing standards, while giving the State Bank Commissioner rulemaking and supervisory authority over state-qualified issuers.

Key provisions for stablecoin issuers

The bill would require non-exempt issuers to obtain a Payment Stablecoin Issuer License before issuing a payment stablecoin to or on behalf of a Delaware resident. It also creates registration tracks for federally supervised issuers and a voluntary registration pathway for digital asset service providers. House Amendment No. 1 would narrow the “resident” definition by removing registered agents and would simplify reciprocal recognition for applicants already licensed in another state.

• Reserves and capital: Issuers would have to maintain identifiable reserve assets backing outstanding payment stablecoins on at least a 1-to-1 basis by fair value. Permitted reserves include U.S. currency, demand deposits at insured institutions, short-term Treasury instruments, certain overnight repurchase arrangements, government money market funds, and other Commissioner-approved liquid assets.
• Redemption and disclosures: Issuers would have to publish redemption policies and ordinarily complete requested redemptions within two business days. The draft allows a statutory seven-calendar-day period if redemption demands exceed 10% of outstanding issuance value in a 24-hour period and restricts discretionary suspensions absent an official order.
• Custody and insolvency safeguards: The bill would require reserve assets to be separately accounted for, not commingled with custodian assets, and protected from custodian creditor claims. It also establishes state insolvency provisions intended to prioritize payment stablecoin holder claims to identifiable reserve assets.
• AML/CFT, sanctions, and privacy: Licensed issuers would have to maintain written AML/CFT and sanctions programs, preserve the technical ability to comply with lawful freeze or burn orders, and implement customer data security and breach-notification programs.

Regulatory implementation and federal alignment

The State Bank Commissioner would be the primary Delaware regulator for licensed payment stablecoin issuers and registered digital asset service providers. SB 19 directs the Commissioner to promulgate implementing regulations across licensing, reciprocal recognition, reserve composition, custody, capital, risk management, AML certification, examination, data privacy, and voluntary DASP registration. The Commissioner also would submit a certification application to the federal Stablecoin Certification Review Committee within six months after required regulations are promulgated.

Status and timeline

SB 19 was introduced on March 23, 2026. Senate Substitute No. 2 was introduced on April 21, 2026, passed the Delaware Senate on April 23, 2026, and was assigned to House Appropriations on May 5, 2026. House Amendment No. 1 was introduced and placed with the bill on June 4, 2026. If enacted in its current form, the Act would be effective immediately but implemented by the earlier of one year after enactment or publication of notice that final implementing regulations have been promulgated. A separate licensing trigger would delay required licensure until the earlier of 18 months after the chapter’s effective date or 120 days after required regulations are promulgated.

CryptoSlate editorial note

This profile summarizes the pending Delaware bill as of June 9, 2026. It does not describe an operative licensing regime unless and until the bill is enacted and the relevant implementation provisions take effect. Editors should re-check the Delaware General Assembly page before publication or import because pending committee bills can change through amendments, committee reports, floor votes, or gubernatorial action.