HA1TOSB18 • 2025

This House Amendment No.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Bush
Last action: 2026-06-18
Official status: Stricken 6/18/26
Effective date: Not listed

Plain English Breakdown

The official text states the bill was 'Stricken in House,' meaning it failed, though metadata notes it previously passed both chambers before this final action.

House Amendment No. 1 to Senate Bill No. 18: Defining Virtual Currency Terms

This amendment clarifies definitions for 'virtual currency,' 'control of virtual currency,' and 'virtual-currency business activity' by excluding certain digital items, fraud prevention actions, and peer-to-peer software from specific rules.

What This Bill Does

Clarifies that controlling a transaction does not include stopping it to prevent unauthorized or fraudulent activity.
Removes 'virtual currency' from lists of affinity programs like airline miles or credit card points.
Excludes digital items with value beyond being just assets, such as art, collectibles, and loyalty points, unless they are primarily speculative in nature.
Defines virtual-currency business activity to include exchanging, transferring, storing, or holding electronic precious metals certificates for customers.
Excludes peer-to-peer transfers and the development of software from rules about virtual-currency businesses.

Who It Names or Affects

Businesses that exchange, transfer, store, or hold electronic precious metal certificates for others.
People who trade digital items like art, collectibles, or loyalty points if those items are not primarily speculative assets.
The Commissioner of the state agency responsible for making rules about whether certain digital representations count as financial assets.

Terms To Know

Virtual currency: A type of digital money that does not include items like loyalty points or digital art unless they are primarily speculative in nature and traded like virtual currency.
Control of virtual currency: The ability to manage a transaction, but this definition excludes stopping transactions specifically to prevent fraud or unauthorized use.
Virtual-currency business activity: Services like exchanging, storing, or holding electronic precious metal certificates for customers, which does not include simple person-to-person trades or making software.

Limits and Unknowns

The bill was stricken in the House on June 18, 2026, so it did not become law.
The Commissioner can create future rules to decide if certain digital items count as financial assets.

Bill History

2026-06-18 Delaware General Assembly
Stricken in House
2026-06-04 Delaware General Assembly
Introduced and Placed With Bill

Official Summary Text

This House Amendment No. 1 amends Senate Bill No. 18, as amended by Senate Amendment No. 1, by doing the following:
1. Clarifying the meaning of “Virtual currency.”
2. Clarifying the meaning of “Virtual-currency business activity.”
3. Clarifying the meaning of “Control of virtual currency.”

Current Bill Text

Read the full stored bill text

Legislation Document

SPONSOR:

Rep. Bush

HOUSE OF REPRESENTATIVES

153rd GENERAL ASSEMBLY

HOUSE AMENDMENT NO. 1

SENATE BILL NO. 18

AMEND Senate Bill No. 18, as amended by Senate Amendment No. 1, on line 650 by inserting “

Control does not mean a person who retains the ability to terminate, suspend, or interrupt a virtual-currency transaction or similar action to prevent an unauthorized or fraudulent activity.

” after “

virtual currency transaction.

”.

FURTHER AMEND Senate Bill No. 18, as amended by Senate Amendment No. 1,

on lines 668 and 669 by deleting “

money, bank credit, or virtual currency.

” as it appears therein and inserting in lieu thereof the following:

“

money or bank credit and that primarily relates to such affinity or rewards program.

”.

FURTHER AMEND Senate Bill No. 18, as amended by Senate Amendment No. 1, after line 672 and before line 673 by inserting the following:

“

3. A digital representation of value that has value, utility, or significance beyond its mere existence as a digital asset, and that is not traded in such a manner or form that it should be considered a virtual currency, such as a mass-minted series of items with substantially similar or nearly identical traits that are marketed or sold interchangeably and that are primarily speculative in nature, including the digital equivalent of a tangible or intangible good such as any of the following:

A. A work of art, a musical composition, a literary work, or other intellectual property.

B. Collectibles, merchandise, virtual land, and in-game or in-application assets.

C. Affinity, rewards, or loyalty points, including airline miles or credit card points.

D. Rights, licenses, and tickets.

E. Any other digital representation of value that the Commissioner, by rule or regulation, determines has value, utility, or significance beyond its mere existence as a digital representation of value, including the digital equivalent of a tangible or intangible good.

The Commissioner, by rule or regulation, may determine whether such a digital representation of value under this paragraph (6)b.3. is traded in such a manner or form that it should be considered a digital financial asset.

”.

FURTHER AMEND Senate Bill No. 18, as amended by Senate Amendment No. 1, by deleting lines 675 through 687 in their entirety and inserting in lieu thereof the following:

“

(8) a. "Virtual-currency business activity" means any of the following:

1. Exchanging, transferring, or storing virtual currency as part of a business or on behalf of a customer who has entered into an agreement with a business for the provision of such services.

2. Holding electronic precious metals or electronic certificates representing interests in precious metals on behalf of another person or issuing shares or electronic certificates representing interests in precious metals.

b. “Virtual-currency business activity" does not include any of the following:

1. Peer-to-peer exchanges or transfers of virtual currency.

2. Software facilitating peer-to-peer exchanges or transfers that are intended to automatically execute, control, or document events and actions.

3. The development, publication, constitution, administration, maintenance, and dissemination of software in and of itself.

”.

SYNOPSIS

This House Amendment No. 1 amends Senate Bill No. 18, as amended by Senate Amendment No. 1, by doing the following:

1. Clarifying the meaning of “Virtual currency.”

2. Clarifying the meaning of “Virtual-currency business activity.”

3. Clarifying the meaning of “Control of virtual currency.”