Delaware Introduces Payment Stablecoins Act, Senate Bill 19, March 2026

On March 23, 2026, Delaware senators introduced Senate Bill 19, the Delaware Payment Stablecoins Act (SB 19), before the 153rd Delaware General Assembly. The bill is at the pre-enactment, introduction stage and has not yet been voted on. SB 19 is a companion bill to Senate Bill 16, introduced on the same date, which proposes amendments to Delaware banking law to accommodate stablecoin issuers.

The controlling provisions are at title 5, chapter 40 of the proposed Delaware Code, as introduced in SB 19. Section 4002 states the legislative purpose: to provide a state-level licensing and supervision regime for payment stablecoin issuers operating in Delaware, covering capital adequacy, reserve composition, redemption mechanics, anti-money laundering obligations, and public disclosure. Section 4001 establishes that the Act "may be cited as the 'Delaware Payment Stablecoin Act.'" The bill defines a "payment stablecoin" as a digital asset pegged to a fixed monetary value and used primarily for payment or settlement purposes.

Stablecoin issuers seeking to operate in Delaware would need to obtain a license from the Delaware Office of the State Bank Commissioner under SB 19's proposed regime. Issuers already regulated at the federal level under the GENIUS Act may seek a determination of substantial equivalence rather than obtaining a separate Delaware license, provided federal requirements cover all areas addressed in SB 19. Non-licensed issuers would face restrictions on conducting payment stablecoin activity in the state.

SB 19 is pending before the Delaware General Assembly and has not yet passed either chamber as of the date of this analysis. Enactment would require majority approval in both the Delaware Senate and House of Representatives, followed by the Governor's signature. Delaware's move mirrors similar legislation proposed in other states and is designed to complement rather than conflict with the federal GENIUS Act framework signed into law in July 2025.

Our firm advises on stablecoin licensing at both state and federal levels across U.S. jurisdictions and maintains a dedicated partner network for fintech and digital asset regulatory matters. We can advise issuers, payment service providers, and financial institutions on compliance structuring under the developing multi-state stablecoin regime. Our practice covers work including payment stablecoin licensing, Delaware banking law, state money transmission, digital asset regulatory strategy, and crypto-asset legal advisory.

Source: Delaware General Assembly, Senate Bill 19, 153rd General Assembly (introduced March 23, 2026), title 5, chapter 40, Delaware Code (proposed); bill text available at https://legis.delaware.gov (FR Document confirmed via Delaware General Assembly official records, April 7, 2026).

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