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Delaware · Through 2026-08-10 (85 Del. Laws, c. 421, 424) · Newer source version available

5 Del. C. § 3552: Enforcement powers [For application of this section, see 85 Del. Laws, c. 339, § 2].

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Where this section sits in the code
  1. Title 5. Banking
  2. Other Businesses Under Jurisdiction of State Banking Department
  3. CHAPTER 35. Delaware Payment Stablecoins Act [For application of this chapter, see 85 Del. Laws, c. 339, § 2]
  4. Subchapter IX. Examination, Enforcement, and Insolvency [For application of this subchapter, see 85 Del. Laws, c. 339, § 2]

(a) If the Commissioner has reason to believe that a person has violated or is about to violate any provision of this chapter or any regulation or order of the Commissioner, the Commissioner may do 1 or more of the following:

(1) Issue a cease and desist order.

(2) Suspend or revoke a license issued under this chapter.

(3) Assess civil penalties for the following amounts:

a. For violations that are not knowing or reckless, not more than $100,000 per violation, per day of a continuing violation.

b. For violations that are knowing or reckless, not more than $500,000 per violation, per day of a continuing violation.

c. For violations that are part of a pattern of misconduct or that result in material harm to payment stablecoin holders, not more than $1,000,000 per violation, per day of a continuing violation.

(4) Seek injunctive relief in the Court of Chancery of this State.

(b) In determining the amount of any civil penalty under paragraph (a)(3) of this section, the Commissioner shall consider the following:

(1) The gravity of the violation.

(2) The history of previous violations.

(3) The good faith of the person charged.

(4) The financial resources and good character of the person.

(5) Any unjust enrichment to the person from the violation.

(6) Any harm to payment stablecoin holders or the public.

(7) Any other factors as justice may require.

(c) Before taking action under paragraph (a)(2) or (a)(3) of this section, the Commissioner shall provide the affected person with notice and an opportunity to be heard in accordance with the Administrative Procedures Act, chapter 101 of Title 29.

(d) The Commissioner may take emergency action under paragraph (a)(1) of this section without prior notice and hearing if the Commissioner determines that immediate action is necessary to prevent imminent harm to payment stablecoin holders or the public. Emergency actions are subject to a prompt post-deprivation hearing.

(e) The Commissioner may share examination reports, investigation files, and other supervisory information with the following:

(1) The primary federal payment stablecoin regulator of an issuer.

(2) Financial regulatory authorities of other states.

(3) Federal law-enforcement agencies, subject to appropriate confidentiality agreements.

Collected 2026-09-05T23:02:05Z. Source file · JSON

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