Stablecoin; license required for issuance or sale of stablecoins, Alabama Securities Commission to enforce and authorize, penalties provided

Summary

The law makes it illegal to create or sell a payment stablecoin in Alabama unless the issuer is a permitted payment stablecoin issuer licensed by the Alabama Securities Commission. The commission will review applications, set licensing rules, and enforce penalties, with the sales ban taking effect on July 18, 2028. The rule aims to protect consumers and align state regulation with the federal GENIUS Act.

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