{ "jurisdiction_id": "US-DE", "jurisdiction": "United States – Delaware", "url": "https://payments.gi/jurisdictions/united-states-delaware/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 66, "source_register": 34 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w1a-licensing-authorisation-market-access", "standing_position": "Delaware regulates money transmission and check-selling under the Delaware Money Transmitters Act (5 Del.C. Ch.23), administered by the Office of the State Bank Commissioner via NMLS; banks/credit unions/trust companies are exempt. A 2026 legislative package (SB16, SB18, SB19) is modernizing this framework for the first time since 1981, adding a CSBS-model money transmission modernization act and a dedicated stablecoin/digital-asset-service-provider licensing chapter, alongside a separate Credit Card Institutions charter (Ch.15) used by national card issuers domiciled in Delaware.", "findings": [ { "finding": null, "instrument_type": "Statute - Delaware Money Transmitters Act, 5 Del.C. Ch.23", "source": "https://delcode.delaware.gov/title5/c023/index.html", "source_url": "https://delcode.delaware.gov/title5/c023/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Regulator guidance", "source": "https://banking.delaware.gov/apply-for-a-license/sale-of-checks/", "source_url": "https://legis.delaware.gov/BillDetail?LegislationId=143117", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB18 Delaware Money Transmission and Virtual Currency Modernization Act (2026)", "source": "https://legis.delaware.gov/BillDetail?LegislationId=143117", "source_url": "https://www.jonesday.com/en/insights/2026/04/delawares-bid-for-digital-asset-leadership-senate-bills-16-and-19-propose-a-modernized-banking-and-stablecoin-framework", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB19 Delaware Payment Stablecoins Act", "source": "https://www.jonesday.com/en/insights/2026/04/delawares-bid-for-digital-asset-leadership-senate-bills-16-and-19-propose-a-modernized-banking-and-stablecoin-framework", "source_url": "https://delcode.delaware.gov/title5/c015/sc01/index.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - Credit Card Institutions, 5 Del.C. Ch.15", "source": "https://delcode.delaware.gov/title5/c015/sc01/index.html", "source_url": "https://delcode.delaware.gov/title5/c015/sc01/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Licensing requirement summary", "source": "https://www.suretybonds.com/states/delaware/money-transmitter-bond", "source_url": "https://delcode.delaware.gov/title5/c015/sc01/index.html", "source_tier": "4", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Safeguarding for money transmitters is achieved through mandatory surety bonds/irrevocable letters of credit and statutory receipt/disclosure duties (5 Del.C. §§ 2309, 2313). Conduct and promotions are policed generally through the Consumer Fraud Act, Deceptive Trade Practices Act, and Telemarketing Fraud Act, enforced by the DOJ Consumer Protection Unit. SB18 (2026) adds standardized receipt requirements for fiat and virtual currency and new consumer protections on transfer timeliness and refunds.", "findings": [ { "finding": null, "instrument_type": "Statute - 5 Del.C. § 2309 (Surety bonds/ILOCs), § 2313 (Receipts)", "source": "https://delcode.delaware.gov/title5/c023/index.html", "source_url": "https://delcode.delaware.gov/title5/c023/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - Delaware Consumer Fraud Act, 6 Del.C. Subch. II Ch.25", "source": "https://delcode.delaware.gov/title6/c025/sc02/index.html", "source_url": "https://delcode.delaware.gov/title6/c025/sc02/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB18", "source": "https://www.delawarepublic.org/politics-government/2026-06-21/package-of-bills-align-first-state-with-genius-act-ready-for-governor", "source_url": "https://www.delawarepublic.org/politics-government/2026-06-21/package-of-bills-align-first-state-with-genius-act-ready-for-governor", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - Delaware Telemarketing Fraud Act", "source": "https://delcode.delaware.gov/title6/c025A/", "source_url": "https://www.delawarepublic.org/politics-government/2026-06-21/package-of-bills-align-first-state-with-genius-act-ready-for-governor", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - Deceptive Trade Practices Act", "source": "https://www.delcode.delaware.gov/title6/c025/sc03/index.html", "source_url": "https://www.delawarepublic.org/politics-government/2026-06-21/package-of-bills-align-first-state-with-genius-act-ready-for-governor", "source_tier": "1", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w2-stablecoins-digital-money", "standing_position": "Delaware is building a comprehensive payment stablecoin regime via SB19 (Delaware Payment Stablecoin Act) and SB16 (Delaware Banking Modernization Act of 2026), designed to be \"substantially similar\" to the federal GENIUS Act so Delaware-licensed issuers can seek nationwide operation without a federal charter. The package was passed by the General Assembly in 2026 and awaits/has received gubernatorial signature, with implementation phased over the following 12-18 months pending Commissioner regulations.", "findings": [ { "finding": null, "instrument_type": "Legislation - Delaware Payment Stablecoin Act (SB19)", "source": "https://legiscan.com/DE/text/SB19/2025", "source_url": "https://legiscan.com/DE/text/SB19/2025", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB19", "source": "https://www.mondaq.com/unitedstates/fintech/1770378/delawares-bid-for-digital-asset-leadership-senate-bills-16-and-19-propose-a-modernized-banking-and-stablecoin-framework", "source_url": "https://www.mondaq.com/unitedstates/fintech/1770378/delawares-bid-for-digital-asset-leadership-senate-bills-16-and-19-propose-a-modernized-banking-and-stablecoin-framework", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB16 Delaware Banking Modernization Act", "source": "https://www.theblock.co/post/394823/delaware-bills-license-stablecoin-issuers", "source_url": "https://www.theblock.co/post/394823/delaware-bills-license-stablecoin-issuers", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB19", "source": "https://www.lowenstein.com/news-insights/publications/client-alerts/delaware-s-bid-for-the-stablecoin-market-what-sb-16-and-sb-19-mean-for-digital-asset-firms-sec-lit-fctm", "source_url": "https://www.lowenstein.com/news-insights/publications/client-alerts/delaware-s-bid-for-the-stablecoin-market-what-sb-16-and-sb-19-mean-for-digital-asset-firms-sec-lit-fctm", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB16/SB19 implementation", "source": "https://www.consumerfinancialserviceslawmonitor.com/2026/04/positioning-delaware-as-a-digital-asset-hub-a-look-at-senate-bills-16-and-19/", "source_url": "https://www.lowenstein.com/news-insights/publications/client-alerts/delaware-s-bid-for-the-stablecoin-market-what-sb-16-and-sb-19-mean-for-digital-asset-firms-sec-lit-fctm", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Policy analysis", "source": "https://www.pymnts.com/cpi-posts/delaware-wants-to-be-the-regulatory-home-for-stablecoins/", "source_url": "https://www.lowenstein.com/news-insights/publications/client-alerts/delaware-s-bid-for-the-stablecoin-market-what-sb-16-and-sb-19-mean-for-digital-asset-firms-sec-lit-fctm", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w3-operational-resilience-critical-infrastructure", "standing_position": "Operational resilience for payments-relevant data is governed primarily by Delaware's data breach notification statute (6 Del.C. Ch.12B), requiring reasonable security practices, resident notification within 60 days, Attorney General notification above 500 affected residents, and one year of free credit monitoring for SSN breaches. Financial institutions regulated under GLBA/functional federal regulators are deemed compliant if they follow their functional regulator's breach procedures; insurance licensees face a separate 3-business-day cybersecurity event reporting duty to the Insurance Commissioner.", "findings": [ { "finding": null, "instrument_type": "Statute - 6 Del.C. § 12B-102 Data Breach Notification", "source": "https://law.justia.com/codes/delaware/title-6/chapter-12b/section-12b-102/", "source_url": "https://law.justia.com/codes/delaware/title-6/chapter-12b/section-12b-102/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Regulator guidance", "source": "https://attorneygeneral.delaware.gov/fraud/cpu/securitybreachnotification/", "source_url": "https://delcode.delaware.gov/title6/c012b/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - 6 Del.C. § 12B-102(e)", "source": "https://law.justia.com/codes/delaware/title-6/chapter-12b/section-12b-102/", "source_url": "https://www.constangy.com/data-privacy-us-de", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - 6 Del.C. § 12B-103 GLBA/HIPAA safe harbor", "source": "https://delcode.delaware.gov/title6/c012b/index.html", "source_url": "https://www.constangy.com/data-privacy-us-de", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Insurance cybersecurity event reporting, 18 Del.C. § 1702", "source": "https://www.constangy.com/data-privacy-us-de", "source_url": "https://www.constangy.com/data-privacy-us-de", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w4-scheme-network-compliance", "standing_position": "Delaware maintains a dedicated Title 5 chapter for \"Payment Networks\" (Ch.50) alongside the long-standing Credit Card Institutions charter (Ch.15) that historically anchored national card-issuing banks in the state. Scheme-level compliance (PCI DSS, interchange, card-brand rules) is governed at the federal/network level rather than by distinct Delaware statute, but the state's bank regulator retains approval authority over scheme-relevant bank M&A, as shown in its review of the Capital One-Discover combination.", "findings": [ { "finding": null, "instrument_type": "Statute - 5 Del.C. Ch.50, Payment Networks", "source": "https://delcode.delaware.gov/title5/", "source_url": "https://delcode.delaware.gov/title5/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - Credit Card Institutions, 5 Del.C. Ch.15", "source": "https://delcode.delaware.gov/title5/c015/sc01/index.html", "source_url": "https://www.paymentsdive.com/news/capital-one-discover-shareholders-approve-merger/740309/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Regulator approval - scheme consolidation", "source": "https://www.paymentsdive.com/news/capital-one-discover-shareholders-approve-merger/740309/", "source_url": "https://delcode.delaware.gov/title5/c015/sc04/index.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - 5 Del.C. § 1543", "source": "https://delcode.delaware.gov/title5/c015/sc04/index.html", "source_url": "https://delcode.delaware.gov/title5/c015/sc04/index.html", "source_tier": "1", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w5-payment-corridor-dynamics", "standing_position": "Delaware has no distinct state-level cross-border payment corridor regulation; corridor infrastructure and rules are governed federally (Fedwire, FedGlobal ACH, CHIPS, SWIFT). Delaware-domiciled institutions participate in these federal rails, and the state itself has historically hosted international banking vehicles (e.g., an Edge Act investment subsidiary) that channel cross-border flows. This module is thinner for Delaware than for national-level jurisdictions given the absence of a state-specific corridor regime.", "findings": [ { "finding": null, "instrument_type": "Federal Reserve payment rail", "source": "https://www.frbservices.org/financial-services/ach/fedglobal", "source_url": "https://www.frbservices.org/financial-services/ach/fedglobal", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "International banking vehicle", "source": "https://en.wikipedia.org/wiki/Edge_Act", "source_url": "https://en.wikipedia.org/wiki/Edge_Act", "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "State payment infrastructure", "source": "https://revenue.delaware.gov/business-electronic-funds-transfer/", "source_url": "https://en.wikipedia.org/wiki/Edge_Act", "source_tier": "2", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w6-industry-structure-commercial-dynamics", "standing_position": "Delaware's payments/banking industry structure was shaped by the 1981 Financial Center Development Act, which drew major national banks and credit card issuers to the state (Bank of America, Barclays, Capital One, M&T Bank, JPMorgan Chase, WSFS Bank, Marlette Funding) and continues to anchor a 40+ company fintech cluster. The 2026 Banking Modernization package is the first major legislative overhaul of this structure since 1981, and new entrants (e.g., Cross River Bank) continue to open Delaware operations citing the state's fintech-friendly posture.", "findings": [ { "finding": null, "instrument_type": "Industry profile", "source": "https://www.choosedelaware.com/key-industries/delaware-fintech-business-financial-services/", "source_url": "https://www.choosedelaware.com/key-industries/delaware-fintech-business-financial-services/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Industry profile", "source": "https://www.choosedelaware.com/key-industries/delaware-fintech-business-financial-services/", "source_url": "https://senatedems.delaware.gov/2026/04/23/senate-passes-banking-modernization-legislation/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislative record - SB16", "source": "https://senatedems.delaware.gov/2026/04/23/senate-passes-banking-modernization-legislation/", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Market entry", "source": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislative announcement", "source": "https://www.rlf.com/proposed-amendments-to-title-5-of-the-delaware-code/", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w7-legal-litigation", "standing_position": "Delaware's payments-legal infrastructure runs through both the Court of Chancery (exclusive jurisdiction over credit card institution license revocations and the state's broader corporate-governance docket, recently reshaped by SB21's \"controlling stockholder\" reforms) and federal AML enforcement precedent (the 2012 FinCEN/FDIC $15 million penalty against First Bank of Delaware for BSA/AML program failures). Regulatory unpredictability concerns contributed to at least one high-profile digital-asset company (Coinbase) re-domesticating from Delaware to Texas in 2025, a dynamic the 2026 banking/stablecoin package is explicitly designed to reverse.", "findings": [ { "finding": null, "instrument_type": "Enforcement action - BSA/AML", "source": "https://www.fincen.gov/news/news-releases/fdic-and-fincen-assess-civil-money-penalty-against-first-bank-delaware", "source_url": "https://www.fincen.gov/news/news-releases/fdic-and-fincen-assess-civil-money-penalty-against-first-bank-delaware", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - 5 Del.C. § 1543(c)", "source": "https://delcode.delaware.gov/title5/c015/sc04/index.html", "source_url": "https://delcode.delaware.gov/title5/c015/sc04/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB21", "source": "https://www.corporatecomplianceinsights.com/inside-delaware-billionaire-bill/", "source_url": "https://paymentexpert.com/2026/03/24/two-digital-asset-bills-delaware/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Market/legal signal", "source": "https://paymentexpert.com/2026/03/24/two-digital-asset-bills-delaware/", "source_url": "https://www.whitecase.com/insight-alert/doj-announces-policy-ending-regulation-prosecution-digital-assets", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Federal enforcement policy", "source": "https://www.whitecase.com/insight-alert/doj-announces-policy-ending-regulation-prosecution-digital-assets", "source_url": "https://www.whitecase.com/insight-alert/doj-announces-policy-ending-regulation-prosecution-digital-assets", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w8-merchant-acquiring-risk", "standing_position": "Delaware has no distinct state-level merchant-acquiring statute; acquiring, chargeback, and high-risk-merchant treatment (MATCH/TMF listing, reserve accounts, PCI DSS) are governed by card-network rules and federal law, applied uniformly to Delaware merchants. The state's own government procurement contracts (e.g., with Bank of America Merchant Services) illustrate standard chargeback and high-risk-MCC provisions as applied within Delaware. This module is comparatively thin for a state-bound (rather than national) jurisdiction.", "findings": [ { "finding": null, "instrument_type": "State procurement contract - merchant processing", "source": "https://bidcondocs.delaware.gov/TRE/TRE_1602-Merch_AN.pdf", "source_url": "https://bidcondocs.delaware.gov/TRE/TRE_1602-Merch_AN.pdf", "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "Industry risk framework", "source": "https://globalinvestigationsreview.com/review/the-investigations-review-of-the-americas/2026/article/doj-and-sec-crypto-exchange-enforcement-in-the-united-states", "source_url": "https://globalinvestigationsreview.com/review/the-investigations-review-of-the-americas/2026/article/doj-and-sec-crypto-exchange-enforcement-in-the-united-states", "source_tier": "4", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w9-product-innovation-market-development", "standing_position": "Delaware's principal product-innovation thrust is its 2026 digital-asset/stablecoin legislative package (SB16/SB19), explicitly designed to position the state as a national on-ramp for stablecoin issuance and bank-custodied digital assets under the GENIUS Act framework, complemented by a Governor-established AI Commission and continued fintech-sector inbound investment (e.g., Cross River Bank).", "findings": [ { "finding": null, "instrument_type": "Legislation - SB16/SB19", "source": "https://www.pymnts.com/cpi-posts/delaware-wants-to-be-the-regulatory-home-for-stablecoins/", "source_url": "https://www.pymnts.com/cpi-posts/delaware-wants-to-be-the-regulatory-home-for-stablecoins/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Product/market development", "source": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_url": "https://www.theblock.co/post/394823/delaware-bills-license-stablecoin-issuers", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislative venue signal", "source": "https://www.rlf.com/proposed-amendments-to-title-5-of-the-delaware-code/", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB16", "source": "https://www.theblock.co/post/394823/delaware-bills-license-stablecoin-issuers", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "3", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w10-consumer-protection-app-fraud", "standing_position": "Consumer protection rests on the Consumer Fraud Act and Deceptive Trade Practices Act, enforced by the DOJ's Division/Unit of Consumer Protection with treble-damages and injunctive remedies. SB18 (2026) adds money-transmission-specific refund/timeliness protections, while a separate 2026 bill (HB441) targets crypto-ATM/kiosk fraud following a sharp rise in reported losses, reflecting active APP-fraud-adjacent legislative attention.", "findings": [ { "finding": null, "instrument_type": "Regulator enforcement", "source": "https://attorneygeneral.delaware.gov/fraud/cmu/complaint/", "source_url": "https://attorneygeneral.delaware.gov/fraud/cmu/complaint/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB18", "source": "https://www.delawarepublic.org/politics-government/2026-06-21/package-of-bills-align-first-state-with-genius-act-ready-for-governor", "source_url": "https://www.delawarepublic.org/politics-government/2026-06-21/package-of-bills-align-first-state-with-genius-act-ready-for-governor", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - HB441 (proposed)", "source": "https://housedems.delaware.gov/2026/06/09/house-economic-committee-releases-bill-to-eliminate-unregulated-cryptocurrency-kiosks-in-delaware/", "source_url": "https://housedems.delaware.gov/2026/06/09/house-economic-committee-releases-bill-to-eliminate-unregulated-cryptocurrency-kiosks-in-delaware/", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - HB441 (proposed, CAUTION: not yet enacted)", "source": "https://ts2.tech/en/crypto-atm-scrutiny-grows-in-delaware-north-carolina-congress-over-scam-concerns/", "source_url": "https://housedems.delaware.gov/2026/06/09/house-economic-committee-releases-bill-to-eliminate-unregulated-cryptocurrency-kiosks-in-delaware/", "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "Statute - 29 Del.C. Ch.25 Division of Consumer Protection", "source": "https://delcode.delaware.gov/title29/c025/sc02/index.html", "source_url": "https://housedems.delaware.gov/2026/06/09/house-economic-committee-releases-bill-to-eliminate-unregulated-cryptocurrency-kiosks-in-delaware/", "source_tier": "1", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w11-aml-cft-financial-crime", "standing_position": "Sentinel.gi-fed baseline position: Delaware money services businesses (money transmitters, check sellers) are treated as MSBs subject to BSA/AML obligations under Chapter 23, with the 2012 FinCEN/FDIC $15 million penalty against First Bank of Delaware standing as the state's landmark AML enforcement precedent. The 2026 stablecoin/money-transmission package (SB18/SB19) extends explicit BSA/AML program and sanctions-compliance obligations to digital asset issuers and service providers, against a backdrop of a softened federal DOJ enforcement posture on digital-asset regulatory violations (April 2025 \"Ending Regulation by Prosecution\" memo) and rising state-level crypto-fraud losses.", "findings": [ { "finding": null, "instrument_type": "Financial crime context - crypto kiosk fraud", "source": "sentinel.https://housedems.delaware.gov/2026/06/09/house-economic-committee-releases-bill-to-eliminate-unregulated-cryptocurrency-kiosks-in-delaware/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Delaware itself imposes no state-level beneficial ownership collection at company formation; company law (recently amended via SB21, upheld by the Delaware Supreme Court Feb 2026) governs corporate structuring, while AML/CFT obligation flows from federal law — the Bank Secrecy Act, FinCEN's now-narrowed Corporate Transparency Act regime (foreign reporting companies only since March 2025), OFAC sanctions administration, and the pending GENIUS Act stablecoin AML/sanctions regime (full effect by Jan 2027).", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — United States — Delaware", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: sourcing-thinness", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-004)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Enforcement: Delaware Supreme Court — Delaware General Corporation Law amendments (SB21)", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-005)", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": "Gap: enforcement-absence", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: regulatory-failure", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: legal-gap", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "GENIUS Act stablecoin AML/sanctions regime full implementation", "instrument_type": "regulatory_horizon", "source": "FIM (sentinel.gi) regulatory_horizon_register (issue FIM-BASE-HRZ-001)", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w12-correspondent-banking-settlement-access", "standing_position": "Delaware's Banking Code (5 Del.C. Ch.1, Ch.14) expressly incorporates Edge Act corporations, foreign bank branches/agencies, and out-of-state bank branches into its banking-organization definitions, and the state hosts at least one Investment Edge Act corporation (HSBC International Finance Corporation) used for cross-border banking activity. Settlement access for Delaware-domiciled institutions runs through federal Fedwire/FedGlobal ACH infrastructure; SB16 (2026) further expands interstate trust company operations and out-of-state fiduciary authority, easing correspondent-style access across state lines.", "findings": [ { "finding": null, "instrument_type": "Statute - 5 Del.C. § 101 definitions", "source": "https://delcode.delaware.gov/title5/c001/sc01/index.html", "source_url": "https://delcode.delaware.gov/title5/c001/sc01/index.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "International banking presence", "source": "https://en.wikipedia.org/wiki/Edge_Act", "source_url": "https://legis.delaware.gov/BillDetail/142987", "source_tier": "4", "retrieved_at": null }, { "finding": null, "instrument_type": "Legislation - SB16", "source": "https://legis.delaware.gov/BillDetail/142987", "source_url": "https://www.federalreserve.gov/econres/notes/feds-notes/payment-stablecoins-and-cross-border-payments-benefits-and-implications-for-monetary-policy-20260330.html", "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Federal settlement infrastructure context", "source": "https://www.federalreserve.gov/econres/notes/feds-notes/payment-stablecoins-and-cross-border-payments-benefits-and-implications-for-monetary-policy-20260330.html", "source_url": "https://www.federalreserve.gov/econres/notes/feds-notes/payment-stablecoins-and-cross-border-payments-benefits-and-implications-for-monetary-policy-20260330.html", "source_tier": "1", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/united-states-delaware/#w13-commercial-intelligence-fintech", "standing_position": "The trailing-12-month window is dominated by (i) the Delaware-regulator-cleared Capital One-Discover combination advancing toward close, (ii) Capital One's completed acquisition of Brex, (iii) new fintech-bank market entry into Delaware (Cross River), and (iv) the enactment of Delaware's own banking/stablecoin legislative package as a market-shaping regulatory event.", "findings": [ { "finding": null, "instrument_type": "commercial_event", "source": "https://www.paymentsdive.com/news/capital-one-discover-shareholders-approve-merger/740309/", "source_url": "https://www.paymentsdive.com/news/capital-one-discover-shareholders-approve-merger/740309/", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://www.pwc.com/gx/en/services/deals/trends/financial-services.html", "source_url": "https://www.pwc.com/gx/en/services/deals/trends/financial-services.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://senatedems.delaware.gov/2026/04/23/senate-passes-banking-modernization-legislation/", "source_url": "https://finance.yahoo.com/news/cross-river-opens-full-branch-153000636.html", "source_tier": "1", "retrieved_at": null } ] } ] }