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Delaware 153

SB 18

AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO MONEY TRANSMISSION.

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Source: Open States / PluralUpdated 2026-09-11 03:11:03 UTC.

Official record

Measure details

Jurisdiction
Delaware
Session
153
Chamber
upper
Classification
bill
Subjects
Not supplied
Introduced / first action
2026-04-16 00:00:00

Alternate titles

  • Delaware Money Transmission and Virtual Currency Modernization Act short title

Source-supplied abstracts

This Act repeals the existing Chapter 23 of Title 5 and replaces it with the “Delaware Money Transmission and Virtual Currency Modernization Act.” This Act modernizes the State’s regulatory framework for money transmission and addresses the emergence of virtual currency. The Act allows the State Bank Commissioner to coordinate with other states in the licensing and supervision of money transmitters, utilizing the NMLS system. The Act establishes new safety and soundness standards, including a tiered net worth requirement based on total assets and updates surety bond requirements scaled to a licensee’s average daily money transmission liability. The Act standardizes receipt requirements for both fiat and virtual currency transactions, provides a 10-day refund window for certain transmissions, and establishes specific disclosure rules for payroll processing services. This Act provides a 6-month window for general compliance and a 1-year period for licensees to meet new net worth and permissible investment standards. This Act creates new regulatory framework for virtual currency business activity. It defines virtual currency and virtual currency business activity. It mandates specific consumer disclosures regarding the risks of virtual currency and establishes that virtual currency held by a licensee is a pro rata property interest not subject to the claims of the licensee’s creditors. The Act allows the Commissioner to adopt rules and regulations for the administration of this chapter. The Act is to be implemented the earlier of 1 year from the date of the Act’s enactment or notice from the State Banking Commissioner that final regulations have been promulgated. This Act requires a greater than majority vote for passage because § 1 of Article IX of the Delaware Constitution requires the affirmative vote of two-thirds of the members elected to each house of the General Assembly to amend the general corporation law.

Sponsors

Source-supplied history

Actions

  1. Signed by Governor

    executive-signature

  2. Passed By Senate. Votes: 21 YES

    passage

  3. Passed By House. Votes: 38 YES 3 ABSENT

    passage

  4. Amendment HA 2 to SB 18 - Passed In House by Voice Vote

    amendment-passage

  5. Amendment HA 1 to SB 18 - Stricken in House

  6. Amendment HA 2 to SB 18 - Introduced and Placed With Bill

    amendment-introduction

  7. Amendment HA 1 to SB 18 - Introduced and Placed With Bill

    amendment-introduction

  8. Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 9 On Its Merits

    committee-passage

  9. Not Worked in Committee

  10. Assigned to Economic Development/Banking/Insurance & Commerce Committee in House

    introduction, referral-committee

  11. Passed By Senate. Votes: 20 YES 1 NOT VOTING

    passage

  12. Amendment SA 1 to SB 18 - Passed By Senate. Votes: 21 YES

    amendment-passage

  13. Amendment SA 1 to SB 18 - Introduced and Placed With Bill

    amendment-introduction

  14. Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 2 Favorable, 4 On Its Merits

    committee-passage, committee-passage-favorable

  15. Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate

    introduction, referral-committee

When supplied by the API

Related measures

No resolvable related measure is supplied.