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Read. Follow. Verify.Maryland establishes a regulatory and licensing framework for payment stablecoin services and state-issued stablecoins effective January 1, 2027
Last action · May 12, 2026: Approved by the Governor - Chapter 513Sponsor: Ben Kramer
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What This Bill Does
Maryland enacted the Maryland Stablecoin Act, establishing a formal licensing and regulatory framework under the Commissioner of Financial Regulation for nondepository trust companies and s to offer services or act as state stablecoin issuers. The law reduces new commercial bank charter examination fees from $15,000 to $7,000, establishes application procedures, sets strict operational restrictions, and takes effect on January 1, 2027.
Financial technology firms, nondepository trust companies, and s seeking to issue or manage s in Maryland must obtain certification, meet fitness and capital standards, and comply with state oversight. Consumers gain regulated digital asset service options, while traditional depository safety requirements and enforcement mechanisms apply to authorized entities.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Nondepository trust companies
Nondepository trust companies must include specific disclosures in articles of incorporation, may request capital stock reductions, and can apply for certification to act as state issuers or payment stablecoin services institutions.
Credit union service organizations
Credit union service organizations may apply for certificates to operate as payment stablecoin services institutions and are subject to separate or joint examinations by the Commissioner.
Commercial banks
Commercial banks benefit from a reduced new charter examination fee of $7,000 and must notify the Commissioner prior to seeking federal authorization or providing payment stablecoin-related services.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What entities are eligible to apply for a payment stablecoin certificate in Maryland?
Can payment stablecoin services institutions accept regular consumer deposits or make loans?
When does the Maryland Stablecoin Act take effect?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Current status: Signed into law.
Procedural history
12 actions- May 12, 2026Governor of MarylandEnrolledApproved by the Governor - Chapter 513
- Apr 9, 2026SenateFloorReturned Passed
- Apr 8, 2026HouseFloorThird Reading Passed (128-0)
- Apr 8, 2026HouseFloorFavorable Adopted Second Reading Passed
- Apr 8, 2026HouseCommitteeFavorable Report by Economic Matters
- Mar 13, 2026HouseCommitteeReferred Economic Matters
Show 6 earlier actions
- Mar 12, 2026SenateFloorThird Reading Passed (45-0)
- Mar 10, 2026SenateFloorSecond Reading Passed
- Mar 10, 2026SenateFloorFavorable Adopted
- Mar 9, 2026SenateCommitteeFavorable Report by Finance
- Feb 11, 2026SenateHearing 2/26 at 1:00 p.m.
- Feb 6, 2026SenateIntroducedFirst Reading Finance
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Creation of State-Level Stablecoin Regulation
Maryland integrates federal standards from the Genius Act of 2025 into state banking law, establishing the Office of Financial Regulation as a state payment stablecoin regulator.
Connected Entities
Sources
mgaleg.maryland.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy35Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz60Current news / social attention level
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