# Delaware SS 2 for SB 19: AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO STABLECOINS. Delaware SS 2 for 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 signed, last action 2026-07-06 (Signed by Governor); PRIA reads it as touching household money (as of 2026-10-12). - Canonical: https://policyrisk.com/state-bill/DE-SS2FORSB19-153 - As of: 2026-10-12 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Delaware SS 2 for 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: signed - Chamber: Senate - Introduced: 2026-04-21 - Last action: 2026-07-06, Signed by Governor - Sponsor: Spiros Mantzavinos (Democratic) - Cosponsors: 5 - Touches household money: yes - Roll calls: 3 (77 yes, 0 no in all) - Economic provisions PRIA read: 22 ## Summary No summary available. ## Bill overview: provisions PRIA read - Stablecoin holders get priority in insolvency: benefit, high. If a Delaware-licensed permitted issuer becomes insolvent, holders can claim their stablecoins’ face value without a direct issuer contract. Identifiable backing reserves stay outside the issuer’s estate and serve holders before other claimants. Unpaid redemption claims also rank ahead of other uns… - Privacy safeguards for stablecoin customers: benefit, medium. Permitted stablecoin issuers must maintain a written security program to protect customers’ private information. Issuers and affiliates generally cannot share it with unrelated third parties without informed consent, a safeguarded customer-requested service, or a legal requirement. Issuers must inv… - Reserve shortfalls trigger fee-free stablecoin liquidation: benefit, medium. An issuer must report a reserve shortfall the same business day it knows or reasonably should know about it. New issuance must stop until reserves recover, except for qualifying ledger transfers that do not increase net issuance. A shortfall not fixed within 15 consecutive business days triggers or… - Stronger backing for stablecoin holders: benefit, medium. Delaware-licensed issuers must always hold reserves worth at least as much as their outstanding stablecoins. Allowed assets include cash, qualifying deposits, Treasuries maturing within 93 days, qualifying overnight transactions, and government-only money market funds. Lawful tokenized reserves qua… - Stablecoin holders get monthly reserve reports: benefit, low. Issuers must publish reserve reports by noon on each month’s last day, using data from the previous month-end. Reports show outstanding stablecoins, reserve amounts and types, custody locations, average time to maturity, and material reserve changes. A registered public accounting firm must examine… - Stablecoin marketing cannot imply government backing: benefit, low. Permitted issuers cannot use names or advertising suggesting that the U.S. government or a federal agency issues, guarantees, or backs their stablecoins. Issuers must prominently disclose that stablecoins lack federal bank or credit-union deposit insurance. The law does not create a government guar… - Stronger purchase protections for stablecoin customers: benefit, low. Permitted stablecoin issuers cannot require customers to buy another product or service to get their stablecoins. They must prominently disclose that their stablecoins are not deposits insured by the FDIC or NCUA. They cannot claim that any government agency insures their stablecoins. Issuer violat… - Personal transfers and small issuers get exemptions: benefit, low. Licensing exemptions cover government entities, qualifying federal and bank-subsidiary issuers, licensed money transmitters, and qualifying attorney or title-insurer escrow services. Issuers handling no more than $5,000 annually with or for Delaware residents also qualify; the threshold is adjustab… - Stablecoin violations bring strong enforcement powers: benefit, low. The Commissioner can stop violations, suspend or revoke licenses, recover improper gains, and seek court orders. Maximum fines per violation per day are $100,000 for violations that are neither knowing nor reckless, and $500,000 otherwise. Patterns of misconduct or material harm to holders can brin… - Stablecoin issuers need capital and plans: benefit, low. The Commissioner must set a capital minimum of at least $5 million for new stablecoin issuers. Ongoing capital must cover at least 12 months of projected operating costs. Additional capital requirements can reflect risk, within the law’s limits. Issuers must follow tailored rules covering liquidity… - Stablecoin holders generally cannot earn interest: cost, low. Permitted issuers generally cannot pay interest or yield to stablecoin holders. Issuers can keep returns earned on reserve assets for themselves. State-chartered or licensed issuers gain permission to pay holders when federal authority permits federal issuers, on the same terms. - Felony penalties for knowing stablecoin violations: cost, low. Knowingly issuing a payment stablecoin without a required license is a Class F felony. Knowingly making a material false statement in a license application is also a Class F felony. The same penalty applies to knowingly submitting a false certification of a required report or disclosure. - Stablecoin issuers face Delaware licensing rules: cost, low. Nonexempt issuers need a Delaware license to offer stablecoins to Delaware residents, wherever the issuer is located. Residents include people domiciled there, present more than 183 of the previous 365 days, or with a main business there. Applications require ownership, financial, reserve, custody,… - Stablecoin issuers pay for regulatory exams: cost, low. Stablecoin issuers examined under the law must pay the reasonable costs of their regulatory examinations. The State Bank Commissioner sets those costs by regulation. The law specifies no fee amount or direct household charge. - Stablecoin cash-out deadlines allow emergency pauses: mixed, medium. Permitted issuers must publish cash-out rules and usually complete requests within 2 business days, subject to identity and onboarding checks. Fee changes require at least 7 days’ notice. When requests exceed 10% of outstanding issuance in 24 hours, outstanding and subsequent requests get a 7-calen… - Stablecoin identity checks and lawful freezes: mixed, medium. Licensed issuers must verify initial holders and maintain written programs against money laundering and terrorist financing. Programs require a compliance officer, staff training, independent testing, due diligence, records, transaction monitoring, suspicious-activity reports, and annual certificat… - Digital asset providers gain optional registration: mixed, low. Digital asset providers serving Delaware can register voluntarily; registration is not required to do business there. Registration supports interstate recognition, faster later issuer-license review, and protection from local licensing for activities listed in the registration. Registrants must rep… - Existing issuers get simpler Delaware entry: mixed, low. Out-of-state issuers in good standing can seek a Delaware license without full duplicate review under substantially similar rules. They need no separate Delaware company; added conditions can address only material consumer, solvency, or custody gaps. Covered federally supervised issuers instead mus… - Issuer size shapes federal-state licensing transitions: mixed, low. Eligible federal nonbank issuers with no more than $10 billion outstanding can convert to Delaware licensing with a reduced application fee. They need compliant reserves, federal exit documentation, a continuity and holder-notice plan, and no materially risky enforcement matters. Conversion review… - Stablecoin oversight adds fees and transition time: mixed, low. The State Bank Commissioner leads Delaware’s oversight and must issue implementing rules within 1 year after the law takes effect. Rules must align with federal standards where practicable and cover licensing, reserves, capital, security, examinations, and registration. Issuer licensing starts at t… - Stablecoin owners and leaders face review: mixed, low. Proposed buyers of control must notify the Commissioner at least 60 days before acquiring a Delaware-licensed issuer. At least 10% beneficial ownership of voting shares creates a rebuttable presumption of control. Deals can proceed unless rejected within 60 days after complete notice, with a possib… - Stablecoins receive separate treatment from deposits: mixed, low. National currency, deposits, and specified securities are outside the law’s payment-stablecoin definition. This includes qualifying tokenized deposits representing an insured bank’s deposit liability. A stablecoin from a permitted issuer is not a security or bank deposit solely because it is a stab… ## Sponsors and cosponsors - Sponsor: Spiros Mantzavinos (Democratic), Senate - Cosponsor: William Bush (Democratic), House - Cosponsor: William J. Carson (Democratic), House - Cosponsor: Daniel B. Short (Republican), House - Cosponsor: Brian Pettyjohn (Republican), Senate - Cosponsor: Jeffrey N. Spiegelman (Republican), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-06-24 | Senate | Passed (3/4 required) | pass | 21 | 0 | | | 2026-06-18 | House | Passed (2/3 required) | pass | 36 | 0 | | | 2026-04-23 | Senate | Passed (2/3 required) | pass | 20 | 0 | | ## Actions (15) - 2026-07-06: Signed by Governor (Governor) - 2026-06-24: Passed By Senate. Votes: 21 YES (Senate) - 2026-06-18: Passed By House. Votes: 36 YES 5 ABSENT (House) - 2026-06-18: Amendment HA 2 to SS 2 - Passed In House by Voice Vote (House) - 2026-06-18: Amendment HA 1 to SS 2 - Stricken in House (House) - 2026-06-18: Amendment HA 2 to SS 2 - Introduced and Placed With Bill (Senate) - 2026-06-16: Reported Out of Committee (Appropriations) in House with 6 On Its Merits (House) - 2026-06-16: Reported Out of Committee (Appropriations) in House with 6 On Its Merits (House) - 2026-06-04: Amendment HA 1 to SS 2 - Introduced and Placed With Bill (Senate) - 2026-05-05: Assigned to Appropriations Committee in House (House) - 2026-05-05: Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits (House) - 2026-04-30: Assigned to Economic Development/Banking/Insurance & Commerce Committee in House (House) - 2026-04-23: Passed By Senate. Votes: 20 YES 1 NOT VOTING (Senate) - 2026-04-22: Reported Out of Committee (Finance) in Senate with 1 Favorable, 3 On Its Merits (Senate) - 2026-04-21: Adopted in lieu of the original bill SB 19, and Assigned to Finance Committee in Senate (Senate) ## Bill text - Current, 2026-04-21: [HTML](https://legis.delaware.gov/json/BillDetail/GenerateHtmlDocument?legislationId=143125&legislationTypeId=6&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=143125&legislationTypeId=6&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-SS2FORSB19-153 (as of 2026-10-12).