# Delaware SB 19: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO STABLECOINS. Delaware SB 19, AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO STABLECOINS., is a 153rd General Assembly (2024–2026) Senate bill sponsored by Spiros Mantzavinos (Democratic); status failed, last action 2026-07-06 (SS 2 for SB 19 - Signed by Governor); PRIA reads it as touching household money (as of 2026-10-12). - Canonical: https://policyrisk.com/state-bill/DE-SB19-153 - As of: 2026-10-12 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SB 19 - State: Delaware - Session: 153rd General Assembly (2024–2026) - Title: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO STABLECOINS. - Status: failed - Chamber: Senate - Introduced: 2026-03-23 - Last action: 2026-07-06, SS 2 for SB 19 - Signed by Governor - Sponsor: Spiros Mantzavinos (Democratic) - Cosponsors: 4 - Touches household money: yes - Economic provisions PRIA read: 18 ## Summary No summary available. ## Bill overview: provisions PRIA read - Reserve shortfalls trigger fee-free stablecoin liquidation: benefit, medium. An issuer must report a reserve shortfall the same business day it knows or should know about it. New issuance stops until reserves recover, except qualifying ledger transfers that do not increase net issuance. If the shortfall is not cured within 15 consecutive business days, the issuer must begin… - Stablecoin holders get stronger reserve safeguards: benefit, medium. Permitted issuers must always hold identifiable reserves worth at least $1 for every $1 of stablecoins outstanding. Eligible reserves include cash, qualifying deposits, Treasury securities with original or remaining maturity of 93 days or less, qualifying overnight deals, restricted government mone… - Clear warnings and fairer stablecoin sales: benefit, low. Permitted stablecoins are not federally insured deposits, and issuers must prominently tell holders this. Issuers cannot claim government insurance or imply that the United States or a federal agency issues, guarantees, or backs their coins. They also cannot require customers to buy another product… - Stablecoin customers get stronger privacy safeguards: benefit, low. Licensed issuers must maintain a written program protecting customers' private personal information. Sharing with unrelated companies requires informed consent unless needed for a requested service with safeguards or required by law. Suspected unauthorized access or acquisition requires investigati… - Licensing exemptions for personal stablecoin use: benefit, low. Lawful direct transfers between individuals acting for themselves, without an intermediary, and personal self-custody wallet use are exempt. Transfers between your own domestic and foreign accounts at the same parent company are also exempt. Issuance for Delaware residents totaling no more than $5,… - Stablecoin holders generally cannot earn interest: cost, low. Permitted issuers generally cannot pay stablecoin holders interest or yield. Issuers can keep returns earned on reserve assets. If federal law, rules, orders, or guidance allow federally licensed issuers to pay holders, state-licensed issuers can do so on the same terms. - Stablecoin cash-outs have deadlines and pauses: mixed, medium. Issuers must post clear redemption procedures and normally complete requests, including for one whole coin, within two business days after customer checks. Fee changes require at least seven days' notice, and issuers cannot unilaterally limit, delay, or suspend redemptions. When 24-hour demands exc… - Stronger enforcement against stablecoin law violations: mixed, medium. The Commissioner can stop violations, suspend or revoke licenses, seek court orders, and assess civil penalties. Daily maximums per violation are $100,000 for nonknowing, nonreckless conduct; $500,000 for knowing or reckless conduct; and $1 million for patterns or material holder harm. Knowing unli… - Capital and safety rules for issuers: mixed, medium. New stablecoin issuers must hold at least $5 million in fixed capital. Ongoing capital must cover at least 12 months of projected operating expenses, with additional buffers based on risk. The Commissioner must set risk-based rules covering reserves, liquidity, cybersecurity, private keys, business… - Federal transition required for large issuers: mixed, medium. A Delaware state-qualified issuer exceeding $10 billion outstanding during any consecutive 12-month period must notify the Commissioner within 10 business days. Within 360 days after crossing that threshold, it must obtain the required federal approval or reduce outstanding issuance below $10 billi… - State oversight for Delaware stablecoin businesses: mixed, medium. The law covers stablecoin issuance, digital asset services, and custody for Delaware residents, even when providers operate elsewhere. Residents include people or registered agents domiciled in Delaware, businesses headquartered there, and people present over 183 of the previous 365 days. Covered b… - Stablecoin customer checks and transfer controls: mixed, low. Delaware-licensed issuers must maintain written programs against money laundering and terrorist financing and follow applicable federal banking-secrecy rules. Programs must include customer identification, due diligence, records, suspicious-activity reports, staff training, independent testing, and… - Federal issuers can switch Delaware oversight: mixed, low. Federal issuers with no more than $10 billion outstanding can seek Delaware qualification with compliant reserves and required legal standing. They must notify their federal regulator and provide approval, no objection, or satisfactory evidence that surrender procedures have begun. The Commissioner… - Federal stablecoin issuers must register locally: mixed, low. Covered federal issuers and federally approved bank subsidiaries must register at least 30 days before starting covered Delaware activity. They must provide information, renew annually, and pay a registration fee; registration is not a Delaware license. The Commissioner tracks their presence, forwa… - License reviews and fees for providers: mixed, low. Applicants must provide business, ownership, financial, reserve, redemption, compliance, fingerprint, continuity, and cybersecurity information, including an independent security audit. They pay a nonrefundable application fee and reasonable investigation costs; other fees cover renewals, exams, re… - Stablecoin issuer buyers face advance review: mixed, low. Buyers seeking direct or indirect control of a covered state-licensed issuer must give written notice at least 60 days before acquisition. Ownership of at least 10% of voting shares creates a presumption of control that buyers can challenge. The Commissioner can approve, add conditions, or reject a… - Stablecoin issuers face reports and audits: mixed, low. By noon on each month's last day, issuers must publish prior-month coin totals, reserve amounts, composition, average maturity, custody locations, and material changes. A registered accounting firm must examine the monthly information, and the chief executive and chief financial officers must certi… - Transition time for stablecoin business licenses: mixed, low. The law takes effect immediately, but businesses receive time before licensing is required. The licensing deadline is the earlier of 18 months after the chapter takes effect or 120 days after required regulations are issued. Existing money transmitter licensees doing covered digital asset work rece… ## Sponsors and cosponsors - Sponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: William Bush (Democratic), House - Cosponsor: Brian Pettyjohn (Republican), Senate - Cosponsor: Cyndie Romer (Democratic), House - Cosponsor: Jeffrey N. Spiegelman (Republican), House ## Actions (19) - 2026-07-06: SS 2 for SB 19 - Signed by Governor (Governor) - 2026-06-24: SS 2 for SB 19 - Passed By Senate. Votes: 21 YES (Senate) - 2026-06-18: SS 2 for SB 19 - Passed By House. Votes: 36 YES 5 ABSENT (House) - 2026-06-18: SS 2 for SB 19 - - Passed In House by Voice Vote (House) - 2026-06-18: SS 2 for SB 19 - - Stricken in House (House) - 2026-06-18: Substituted in Senate by SS 2 for SB 19 (Senate) - 2026-06-16: SS 2 for SB 19 - Reported Out of Committee (Appropriations) in House with 6 On Its Merits (House) - 2026-06-16: SS 2 for SB 19 - Reported Out of Committee (Appropriations) in House with 6 On Its Merits (House) - 2026-06-04: Substituted in Senate by SS 2 for SB 19 (Senate) - 2026-05-05: SS 2 for SB 19 - Assigned to Appropriations Committee in House (House) - 2026-05-05: SS 2 for SB 19 - Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits (House) - 2026-04-30: SS 2 for SB 19 - Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) - 2026-04-23: SS 2 for SB 19 - Passed By Senate. Votes: 20 YES 1 NOT VOTING (Senate) - 2026-04-22: SS 2 for SB 19 - Reported Out of Committee (Finance) in Senate with 1 Favorable, 3 On Its Merits (Senate) - 2026-04-21: Substituted in Senate by SS 2 for SB 19 (Senate) - 2026-04-15: SS 1 for SB 19 - Assigned to Finance Committee in Senate (Senate) - 2026-04-15: SS 1 for SB 19 - Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 2 Favorable, 5 On Its Merits (Senate) - 2026-04-13: Substituted in Senate by SS 1 for SB 19 (Senate) - 2026-03-23: Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate (Senate) ## Bill text - Current, 2026-03-23: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=142988&legislationTypeId=1&docTypeId=2) ## Related bills - HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITIONIST LICENSURE ACT. (passed house) - HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO SUPPORT POOR PERSONS. (signed) - SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATIONAL THERAPISTS. (vetoed) - HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLIC UTILITY CONSUMERS. (vetoed) - SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS. (vetoed) - HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING FOAM AND EQUIPMENT. (failed) ## Sources - [Current (HTML)](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=142988&legislationTypeId=1&docTypeId=2) ## Related - [HS 1 for HB 449: AN ACT TO AMEND TITLE 24 OF THE DELAWARE CODE RELATING TO THE DIETITIAN/NUTRITI…](https://policyrisk.com/state-bill/DE-HS1FORHB449-153) - [HB 357: AN ACT TO AMEND TITLES 10 AND 13 OF THE DELAWARE CODE RELATING TO THE DUTY TO S…](https://policyrisk.com/state-bill/DE-HB357-153) - [SB 279: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL-BASED OCCUPATI…](https://policyrisk.com/state-bill/DE-SB279-153) - [HB 393: AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO PROTECTIONS FOR PUBLI…](https://policyrisk.com/state-bill/DE-HB393-153) - [SB 231: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO SCHOOL SOCIAL WORKERS.](https://policyrisk.com/state-bill/DE-SB231-153) - [HB 356: AN ACT TO AMEND TITLE 16 OF THE DELAWARE CODE RELATING TO PFAS IN FIREFIGHTING…](https://policyrisk.com/state-bill/DE-HB356-153) - [Delaware bills](https://policyrisk.com/states/delaware/bills) - [Delaware state hub](https://policyrisk.com/states/delaware) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/DE-SB19-153 (as of 2026-10-12).