DOVER, Del. - Governor Matt Meyer signed a package of legislation modernizing Delaware's banking laws, marking the state's most significant update to its financial regulatory framework in more than 40 years.
Senate Bills 16, 18 and 19 update Delaware's banking code to reflect the evolving financial services industry while establishing strong consumer protections for digital assets, virtual currency and stablecoins.
"Delaware didn't become the financial capital of America by standing still," said Gov. Matt Meyer. "More than 40 years ago, our state set the national standard for banking innovation. Today, we're doing it again by creating a modern framework that welcomes new financial technologies, protects consumers and ensures Delaware remains the premier place to innovate, invest, and succeed in financial services."
Senate Bill 16, the Delaware Banking Modernization Act of 2026, updates Delaware's banking code to recognize digital assets and virtual currency, modernizes bank governance and interstate banking laws, and strengthens the regulatory authority of the Office of the State Bank Commissioner.
Senate Bill 18, the Delaware Money Transmission and Virtual Currency Modernization Act, creates a comprehensive licensing and supervisory framework for money transmitters and virtual currency businesses.
Senate Bill 19, the Delaware Payment Stablecoins Act, establishes one of the nation's first state regulatory frameworks aligned with the federal GENIUS Act (Guaranteeing Essentials National Infrastructure in U.S. Stablecoins Act). The legislation authorizes Delaware to charter and supervise payment stablecoin issuers while requiring one-to-one reserve backing, monthly public attestations, anti-money laundering compliance and strong consumer protections.
The three bills reinforce Delaware's reputation as a national leader in banking and corporate law while creating a clear regulatory framework for the financial technologies shaping the future of commerce.
"I’m proud to have worked with State Bank Commissioner Lisa Collison and her office, other members of Governor Meyer’s Administration, and banking and fintech leaders to develop this slate of legislation that not only modernizes Delaware’s banking laws but implements meaningful guardrails for consumers and companies alike in our ever-changing digital world," said Sen. Spiros Mantzavinos, chair of the Senate Banking, Business, Insurance & Technology Committee.
