Key players include lead sponsors Sen. Spiros Mantzavinos and Rep. Bill Bush (with co-sponsors Reps. Pettyjohn, Spiegelman, and Romer), the State Bank Commissioner (gaining expanded authority for chartering, oversight, and regulations), and state-chartered banks/trust companies enabled to hold/administer digital assets and virtual currencies for clients.[3][6][7][9] SB19 mandates licenses (Issuer, Service Provider, or Combination) with 1:1 reserves (e.g., U.S. Treasuries), capital standards, AML compliance, monthly disclosures, and redemption rules, aligning with the federal GENIUS Act (2025); exemptions apply to small operators (<$5K activity) and federal entities.[2][7][8][10] No specific companies are named, but the framework targets fintech/stablecoin firms.[14]
This follows Delaware's financial hub legacy (e.g., 1981 Financial Center Development Act) amid federal GENIUS Act passage (July 2025) and state competition for digital asset business; bills build on prior blockchain support while addressing outdated laws post-40+ years.[2][8][9][14] Unveiled at University of Delaware's FinTech Hub, they head to Senate Banking Committee.[8][14]
Newsworthy now (April 2026) as Delaware seeks GENIUS Act certification via regulations within 18 months, positioning as a national leader in stablecoin/digital asset regulation amid issuer migration and innovation push—potentially setting a template for other states.[7][8][14]