5 Del. C. § 3514: Transition of state-qualified issuers exceeding the $10 billion threshold [For application of this section, see 85 Del. Laws, c. 339, § 2].

(a) If the outstanding issuance value of a state-qualified payment stablecoin issuer exceeds $10,000,000,000 during any consecutive 12-month period, the issuer shall notify the Commissioner within 10 business days of such exceedance.

(b) Within 360 days after the date that the outstanding issuance value of a state-qualified payment stablecoin issuer exceeds $10,000,000,000, the issuer shall do 1 of the following:

(1) Apply for and obtain approval from the appropriate federal regulator to issue payment stablecoins as a permitted payment stablecoin issuer under the GENIUS Act [12 U.S.C. § 5901 et seq.].

(2) Reduce its outstanding issuance value below $10,000,000,000.

(c) During the transition period described in subsection (b) of this section, the issuer’s license under this chapter remains in effect, subject to continued compliance with all requirements of this chapter.

(d) The Commissioner shall promulgate regulations implementing the transition requirements of this section, which may include provisions permitting the Commissioner to coordinate with the applicable federal regulator during the transition period.