Maryland House approves bill to regulate stablecoins after floor debate

The Maryland House of Representatives passed House Bill 13‑55 on March 4, approving a state framework to license and regulate stablecoin issuers under provisions tied to the federal “Genius Act.” The vote was 130 in favor and 1 opposed.

Supporters, including the floor leader, said the bill implements federal guidance and establishes a transparent state regime for issuers. “So what were trying to do is establish in Maryland, Stablecoin is a form of, cryptocurrency,” the floor leader said, arguing the measure will let the state track and register issuers and the assets they peg to.

Opponents warned the structure could centralize oversight and risk broader monetary implications. A delegate from Baltimore County said she was a self‑described crypto skeptic and worried the bills regulatory model could ‘‘lay the groundwork for central bank digital currencies.’’

Other delegates emphasized the bill follows federal law and provides guardrails for issuers and consumer protections. A delegate from Southern Maryland framed the debate as part of broader concerns about inflation and public confidence in the dollar: “Im gonna vote for the bill. I just thought it was important to bring this up ... the moneys running out,” the delegate said.

The measure drew relatively brief floor discussion compared with other bills on the calendar before receiving final passage. The House clerk later recorded the vote as 130–1 in favor.

What comes next: with passage in the House, the bill proceeds to the Senate (or to any reconciliations required under the legislative process).