Three bills crossed Gov. Matt Meyer’s desk Monday, collecting his signature and becoming law.
The goal of the package is to modernize banking in the First State by shaping regulations for new technology and protecting consumers.
State Sen. Spiros Mantzavinos said Delaware has been and remains a leader in financial services.
“The world's changed, and when the world changes and financial services changes, Delaware is ready to still be there at the forefront and to maintain its leadership position,” Mantzavinos said.
Senate Bill 16, one of the bills included in the trio passed Monday, provided the most substantial update to financial service regulations in more than four decades. It is known as the “Delaware Banking Modernization Act of 2026” and acknowledges digital assets.
It also brings new regulations to corporate governance and requirements for state-charted banks and trust companies.
“To think we did it within the first 18 months of our administration is something that I think we're really proud of and we're going to be talking about for a while – and encouraging banks to grow and companies to come here to start new things,” Gov. Meyer said.
Banks nationwide are starting to work with stablecoin, a type of cryptocurrency growing in popularity, after the federal regulatory Genius Act was enacted last summer.
One attendee referred to Senate Bill 19, the First State’s new stablecoin law, as “a launchpad for more opportunities” in Delaware’s future.
“This was a bipartisan piece of legislation,” Mantzavinos said, referring to the package. “And, I mean, you don't see that too often, and I think that just speaks to the understanding among the leadership in the General Assembly and the members that this is about making sure that Delaware remains first in this space.”
