Pennsylvania legislation · 2025-2026 Regular Session
Pennsylvania HB2647: 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.
Status: In committee, June 17, 2026
What the bill says
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.
From the introduced text, June 17, 2026:
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. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. Title 7 of the Pennsylvania Consolidated Statutes is amended by adding a chapter to read: CHAPTER 71 STABLECOIN LICENSING Subchapter A. Preliminary Provisions B. Procedures C. Miscellaneous Provisions SUBCHAPTER A PRELIMINARY PROVISIONS Sec. 7101. Scope of chapter. 7102. Purpose. 7103. Definitions. § 7101. Scope of chapter. This chapter relates to stablecoin licensing. § 7102. Purpose. The purpose of this chapter is to implement the GENIUS Act and to: (1) Enable financial service providers of this Commonwealth to have the opportunity to issue stablecoins. (2) Provide for the regulation of payment stablecoins issued by licensees under this chapter. (3) Empower the department to issue regulations substantially similar to Federal regulations promulgated to implement the GENIUS Act. § 7103. Definitions. The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Applicant." A domestic entity that applies for a license under this chapter. "Appropriate Federal banking agency." As defined in 12 U.S.C. § 1813(q) (relating to definitions). "Bank Secrecy Act." …
Sponsors
- Harry Conklin (D, 77) · primary sponsor
- Benjamin Sanchez (D, 153)
Latest actions
- : Referred to COMMERCE, June 17, 2026
Common questions
- What is HB2647?
- HB2647 is a bill in the Pennsylvania Legislature (2025-2026 Regular Session): 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.
- What does HB2647 do?
- In its own words: 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.
- What is the status of HB2647?
- In committee as of June 17, 2026. Latest action: Referred to COMMERCE, June 17, 2026 (June 17, 2026).
- Who sponsored HB2647?
- Harry Conklin (D, 77), with 1 co-sponsor.
- Where is the official record for HB2647?
- On the Pennsylvania Legislature website: https://www.palegis.us/legislation/bills/2025/hb2647
Source: official Pennsylvania record. Tracked by Delilah, AI for legislation across all 50 states and Congress.