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.

This bill amends Pennsylvania banking laws to create a new licensing framework that allows local financial service providers to issue and regulate stablecoins. It establishes specific duties for the Department of Banking and Securities and the Banking and Securities Commission to oversee these digital currency issuers and align state rules with federal standards. The legislation also defines key terms like digital assets and stablecoins while setting up penalties for non-compliance with the new regulations.