#banking modernization

[rwatimes]

Delaware Senate Passes Banking Modernization Legislation

WGMD - The Talk Of Delmarva - Serving Delmarva Since 1980

➤ Delaware's Senate has passed two key bills, SB 16 and SB 19, aimed at modernizing banking laws and establishing a framework for stablecoin issuers. ➤ SB 16 defines digital assets and expands the State Bank Commissioner's authority, while SB 19 creates a licensing structure for payment stablecoin issuers, incorporating federal definitions and new U.S. Treasury guidance. ➤ These legislative updates are intended to reinforce Delaware's position as a financial services leader by adapting to evolving digital asset technologies while maintaining consumer safeguards.

[rwatimes]

Positioning Delaware as a Digital Asset Hub: A Look at Senate Bills 16 and 19

Delaware is positioning itself at the center of digital asset and stablecoin innovation with a coordinated package of legislation aimed at modernizing its

➤ Delaware is advancing legislation (Senate Bills 16 and 19) to modernize its banking code and establish a framework for payment stablecoins, aiming to become a digital asset innovation hub. ➤ SB 16 clarifies the authority of state-chartered institutions to hold digital assets in fiduciary capacities and offers more flexible chartering options. ➤ SB 19 introduces a licensing and supervisory framework for stablecoin issuers and digital asset service providers, aligning with emerging federal standards.