The bill creates a state framework for stablecoin issuers and digital asset service providers, adopting GENIUS definitions while setting reserve requirements and payment restrictions.
Delaware's Payment Stablecoin Act has cleared the state legislature after passing the House 36-0 and the Senate 20-0. The measure creates a legal framework for stablecoin issuers and digital asset service providers in the state, adopts definitions from GENIUS, and sets reserve requirements alongside restrictions on stablecoin payments. The move adds to the broader push to formalize rules for dollar-pegged digital tokens, which regulators and lawmakers have increasingly focused on because reserve backing and payment use are central to stablecoin oversight.