An Act amending Title 7 (Banks and Banking) of the Pennsylvania Consolidated Statutes, providing for stablecoin licensing; imposing duties on the Department of Banking and Securities and the Banking and Securities Commission; and imposing penalties.

Summary

The bill creates a licensing framework for stablecoin issuers, assigns new responsibilities to the Department of Banking and Securities and the Banking and Securities Commission, and defines penalties for violations. It targets stablecoin companies, state regulators, and ultimately consumers, aiming to bring clearer oversight to digital assets.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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