The Commissioner is the primary state regulatory and supervisory authority in Delaware over entities that issue payment stablecoins and over digital asset providers that have registered under § 3517 of this title. The Commissioner shall serve as the “state payment stablecoin regulator” for purposes of the GENIUS Act, 12 U.S.C. § 5901(30).

85 Del. Laws, c. 339, § 1; 

(a) Not later than July 7, 2027, the Commissioner shall promulgate regulations implementing the following:

(1) Application procedures, forms, and fees under § 3512 of this title.

(2) Reciprocal recognition standards under § 3513 of this title.

(3) Transition procedures for issuers exceeding the $10 billion threshold under § 3514 of this title.

(4) Reserve asset composition, custody standards, concentration limits, and liquidity standards under § 3521 of this title.

(5) Capital and net worth requirements under § 3522 of this title.

(6) Risk management standards, including asset growth management and wind-down planning, under § 3535 of this title.

(7) Anti-money laundering program standards and annual certification requirements under § 3531 of this title.

(8) Examination standards and fees under § 3551 of this title.

(9) Outstanding issuance value computation methodology under § 3503 of this title.

(10) Data privacy and information security program standards, breach notification procedures, and customer notification requirements under § 3537 of this title.

(11) Procedures for applications by federal qualified payment stablecoin issuers electing Delaware state qualification under § 3515 of this title, including transition plan requirements, holder notification standards, evidence of Office of the Comptroller of the Currency (OCC) exit standards, coordination protocols with the OCC, and the reduced application fee schedule.

(12) Change-in-control notice procedures and review standards under § 3516 of this title.

(13) Voluntary digital asset service provider registration procedures, form and content standards, renewal procedures, consumer disclosure standards, and fee schedules under § 3517 of this title.

(14) Any other regulations as are necessary to implement this chapter in a manner that is substantially similar to the GENIUS Act [12 U.S.C. § 5901 et seq.] and OCC implementing regulations.

(b) The Commissioner may promulgate regulations for the following:

(1) Establishing additional subcategories of the payment stablecoin issuer license under § 3511(d) of this title, and establishing additional form, content, and fee requirements for voluntary digital asset service provider registrations under § 3517 of this title.

(2) Granting exemptions from this chapter under § 3507(9) of this title.

(3) Establishing tailored requirements for different classes of permitted payment stablecoin issuers based on size, risk, or business model.

(4) Adopting by reference federal regulations promulgated under the GENIUS Act [12 U.S.C. § 5901 et seq.], as the Commissioner determines is necessary to maintain substantial similarity with the federal framework.

(5) Establishing procedures for automatic or expedited adoption of federal regulatory amendments to maintain ongoing substantial similarity with the federal framework, including any final rules promulgated by the Financial Crimes Enforcement Network, the OCC, the Board of Governors of the Federal Reserve System, or other federal payment stablecoin regulators.

(6) Establishing procedures for coordination with the primary federal payment stablecoin regulators.

(7) Prescribing such other requirements as the Commissioner deems necessary to protect the public and ensure the safety and soundness of permitted payment stablecoin issuers.

(c) In promulgating regulations under this section, the Commissioner shall align Delaware’s regulatory framework, to the extent practicable, with regulations promulgated under the GENIUS Act [12 U.S.C. § 5901 et seq.] by the primary federal payment stablecoin regulators, including the OCC’s regulations implementing the GENIUS Act (Docket ID OCC-2025-0372, as finalized), in order to maintain the substantial similarity required for GENIUS Act certification.

(d) All regulations promulgated under this chapter are subject to the requirements of the Administrative Procedures Act, Chapter 101 of Title 29.

(e) The Commissioner shall adopt regulations establishing a safe harbor for persons that hold a money transmitter license under Chapter 23 of this title and that are engaged in activities that constitute digital asset service activity under this chapter, allowing such persons a reasonable period of not less than 18 months following the effective date of required regulations to come into compliance with any requirements applicable to voluntary registration under § 3517 of this title, should such persons elect to register. The Commissioner shall also adopt regulations establishing interim authorization procedures for persons who apply to issue a payment stablecoin or act as a digital asset service provider after July 6, 2026, and before the applicable licensing date specified under subsection (f) of this section, which regulations shall specify the form, standards, and conditions applicable to interim authorizations.

(f) A person is not required to obtain a license under § 3511 of this title earlier than January 7, 2028, or 120 days after the Commissioner promulgates the regulations required under this section, whichever is earlier, provided that any person seeking to issue a payment stablecoin after July 6, 2026, and before the applicable licensing date may apply to the Commissioner for interim authorization on a form prescribed by the Commissioner pursuant to regulations promulgated under subsection (e) of this section.

85 Del. Laws, c. 339, § 1; 

(a) The Commissioner may enter into information-sharing agreements, memoranda of understanding, and cooperative arrangements with the following:

(1) The primary federal payment stablecoin regulators, including the Office of the Comptroller of the Currency, the Federal Reserve Board of Governors, and the Federal Deposit Insurance Corporation.

(2) The Financial Crimes Enforcement Network.

(3) The Office of Foreign Assets Control.

(4) The Securities and Exchange Commission and the Commodity Futures Trading Commission.

(5) The financial regulatory authorities of other states.

(6) Foreign financial regulatory authorities, subject to appropriate confidentiality protections.

(7) The Delaware Department of Justice.

(b) The Commissioner shall cooperate with the Stablecoin Certification Review Committee established under the GENIUS Act, 12 U.S.C. § 5901(27), and shall submit a certification application to that Committee demonstrating that this chapter and the Commissioner’s implementing regulations constitute a regulatory framework substantially similar to the federal framework, not later than 6 months after the Commissioner promulgates the required regulations under § 3566(a) of this title.

85 Del. Laws, c. 339, § 1;