Multiple bipartisan bills, supported by AFC, will establish modern regulatory frameworks for banking, money transmission, virtual currency, and stablecoins in Delaware

Dover, DE (July 6, 2026) – The American Fintech Council (AFC), the largest industry association representing both responsible fintech companies and innovative banks, applauds Delaware Governor Matt Meyer for his support and was in attendance as he signed Senate Bills 16, 18, and 19 into law. Together, the bills modernize Delaware's financial services framework by establishing clear, consumer-focused regulatory standards for banking, money transmission, virtual currency, and stablecoins. AFC supported the legislation from inception throughout the legislative process and commends Governor Meyer, Sen. Spiros Mantzavinos, Sen. Brian Pettyjohn, Rep. William Bush, and Rep. Jeffrey Spiegelman for their leadership in advancing responsible innovation in the First State.

AFC has maintained a consistent presence in Dover as part of a strategic working group designed to modernize bank regulation in Delaware. In April, they submitted a letter supporting SB 16, applauding the legislation's pragmatic approach to updating Delaware's banking laws. By recognizing emerging financial products and modernizing key provisions of the state's banking code, the bill ensures Delaware's regulatory framework better reflects the way consumers and businesses engage with financial services today.

"It has been an honor working alongside Senator Mantzavinos, the Governor’s office and other Delaware banking leaders to develop and pass such meaningful legislation. Delaware has long been a leader in financial services, and enacting this package reinforces the state's commitment to modern, forward-looking financial policy," said Phil Goldfeder, CEO of the American Fintech Council. "By creating clear regulatory frameworks for emerging financial technologies while maintaining strong consumer protections, Delaware is providing the certainty responsible innovators need to invest, grow, and serve consumers. We applaud state leaders for advancing legislation that reflects the realities of today's financial marketplace and look forward to our continued collaboration."

SB 18, the Delaware Money Transmission and Virtual Currency Modernization Act, aligns with AFC's longstanding support for modernizing the nation's payments regulatory framework. The legislation establishes a more consistent framework for money transmission and virtual currency, creating a more efficient regulatory environment that supports responsible providers and protects consumers.

"As financial services continue to evolve, states have an important role to play in establishing clear, consistent regulatory frameworks that encourage responsible innovation while upholding robust consumer safeguards," said Ashley Urisman, Director of State Government Affairs at the American Fintech Council. "By modernizing Delaware's approach to banking, payments, virtual currency, and stablecoins, this legislation establishes durable standards that will benefit consumers, support responsible providers, and ensure the state's regulatory framework keeps pace with a rapidly changing financial landscape.”

AFC also submitted a letter supporting SB 19, highlighting the need for a dedicated regulatory framework governing stablecoins. The legislation establishes clear standards that complement federal law, strengthen consumer safeguards, and provide responsible innovators with the regulatory certainty needed to continue developing digital asset products in Delaware.

A standards-based organization, the American Fintech Council (AFC) is the largest and most diverse trade association representing financial technology (fintech) companies and innovative banks. On behalf of over 150 member companies and partners, AFC promotes a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

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