Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Delaware committee walks SB16 to refine banking modernization after votes fall short
Summary
A committee hearing on Senate Bill 16 (SS1) to update Delaware's Title 5 banking code covered digital-asset definitions, expanded state bank-commissioner authority and conversion pathways for out-of-state banks; a motion to release the substitute failed for lack of signatures and the bill was walked for later signatures.
Chair Bush opened a committee session to consider Senate Substitute 1 for Senate Bill 16, saying the measure would modernize Delaware's Title 5 banking code, add definitions for digital assets and virtual currency, expand the state bank commissioner's authority and ease corporate governance and conversion rules for banks and trust companies.
Lisa Collison, introduced to the committee as the State Bank Commissioner, told members the substitute defines digital assets and virtual currency, allows trust companies and banks to custody and hold…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
