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Committee releases SB19 substitute creating Delaware stablecoin licensing framework
Summary
Senate Substitute 2 for SB19 would create a licensing regime for payment-stablecoin issuers and digital-asset service providers, set reserve and redemption standards, AML rules, custody safeguards and a federal-to-state charter pathway; the committee voted to release the substitute to the House floor.
Chair Bush presented Senate Substitute 2 for Senate Bill 19, saying the measure would create a comprehensive licensing framework for payment-stablecoin issuers and digital-asset service providers operating with or on behalf of Delaware residents. The substitute, as described at the hearing, sets reserve requirements (and remediation cascades for reserve shortfalls), redemption timing standards, capital requirements, anti-money-laundering obligations, custody safeguards, notice procedures for…
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