Pennsylvania HB2647 establishes a regulatory framework for stablecoin licensing, imposing duties on the Department of Banking and Securities and the.

Pennsylvania HB2647 amends Title 7 of the Pennsylvania Consolidated Statutes to introduce a regulatory framework for stablecoin licensing. The bill imposes duties on the Department of Banking and Securities and the Banking and Securities Commission, including the issuance of regulations and enforcement of compliance. It mandates that entities wishing to issue payment stablecoins must obtain a license, detailing application requirements and evaluation criteria. The bill also outlines capital, liquidity, and risk management requirements for licensees, along with penalties for violations.

Pennsylvania HB2647 establishes a regulatory framework for stablecoin licensing, imposing duties on the Department of Banking and Securities and the.

Pennsylvania HB2647 amends Title 7 of the Pennsylvania Consolidated Statutes to introduce a regulatory framework for stablecoin licensing. The bill imposes duties on the Department of Banking and Securities and the Banking and Securities Commission, including the issuance of regulations and enforcement of compliance. It mandates that entities wishing to issue payment stablecoins must obtain a license, detailing application requirements and evaluation criteria. The bill also outlines capital, liquidity, and risk management requirements for licensees, along with penalties for violations.