Maryland legislation · 2026 Regular Session
Maryland SB662: Financial Institutions - Payment Stablecoin Services - Establishment and Regulation (Maryland Stablecoin Act)
Status: Signed into law, May 12, 2026
Altering the examination fee for a new commercial bank charter; requiring a certain nondepository trust company to include certain disclosures in its articles of incorporation; exempting from certain provisions of law a certain nondepository trust company authorized to provide certain services by the Commissioner of Financial Regulation; authorizing a certain nondepository trust company to request that the Commissioner reduce the capital stock requirements under certain circumstances; etc.
What the bill says
An act concerning Financial Institutions - Payment Stablecoin Services - Establishment and Regulation (Maryland Stablecoin Act) FOR the purpose of altering the examination fee for a new commercial bank charter; requiring a certain nondepository trust company to include certain disclosures in its articles of incorporation; exempting from certain provisions of law a certain nondepository trust company authorized to provide certain services by the Commissioner of Financial Regulation…
From the enrolled text, May 19, 2026:
AN ACT concerning Financial Institutions - Payment Stablecoin Services - Establishment and Regulation (Maryland Stablecoin Act) FOR the purpose of altering the examination fee for a new commercial bank charter; requiring a certain nondepository trust company to include certain disclosures in its articles of incorporation; exempting from certain provisions of law a certain nondepository trust company authorized to provide certain services by the Commissioner of Financial Regulation; authorizing a certain nondepository trust company to request that the Commissioner reduce the capital stock requirements under certain circumstances; establishing a regulatory and legal framework for entities in the State to serve as State issuers of stablecoin-related services or as payment stablecoin services institutions; and generally relating to payment stablecoin services in the State. BY repealing and reenacting, with amendments, Article - Financial Institutions Section 2-105.1(c)(1), 2-108(a)(1), 2-113(d), 3-101, 3-102, 3-202, 3-206, 3-207, 3-209, 3-211.1(b), 5-203(c), 6-101, and 6-312 Annotated Code of Maryland (2020 Replacement Volume and 2025 Supplement) BY adding to Article - Financial Institutions Section 14-101 through 14-603 to be under the new title "Title 14. Maryland Stablecoin Act" Annotated Code of Maryland (2020 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Financial Institutions 2-105.1. (c) (1) The Commissioner may participate in NMLS …