HB 859

Financial Institutions - Digital Assets and Digital Asset Staking - Regulation (Maryland Financial Innovation Act of 2026)

Sponsor: Adrian Boafo (District 23)Committee: Economic MattersSubject: Financial InstitutionsStatus: Hearing 3/10 at 1:00 p.m. (as of Sep 4, 2026)

What this bill does

Official synopsis

Prohibiting certain regulation of certain activities involving digital assets by an agency or other instrumentality of the State or a political subdivision of the State; and clarifying that the provision of digital asset staking as a service is excluded from a certain definition and certain filing and registration requirements under the Maryland Securities Act.

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Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.

Testimony (18)

MGA witness list

FAV 9FavorableFWA 3Favorable with amendmentsUNF 4UnfavorableINFO 2Information only

Position	Witness	Organization	Testimony
FAV	DeMinco, Lynne	BCRW	Position only
FAV	January, Briannalobbyist	Chamber of Progress	Written (PDF)
FAV	Jean, Howard	Coinbase	Oral + Written (PDF)
FAV	Pao, Yaeunda	Coinbase	Oral + Written (PDF)
FAV	Searcy, Katy Annlobbyist	Coinbase	Oral + Written (PDF)
FAV	Nazario, Gilberto	Web3 Maryland	Oral + Written (PDF)
FAV	Boafo, Delegate Adrian	Individual	Written (PDF)
FAV	Delegate Boafo, Delegate Boafolegislator	Individual	Oral
FAV	Lent, Michael	Individual	Position only
UNF	Bevan-Dangel, Jenniferlobbyist	Economic Action Maryland Fund	Oral + Written (PDF)
UNF	Harris, Jonathan	Jonathan Harris	Written (PDF)
UNF	Brauer, Max	Maryland Office of Attorney General, Securities Division	Oral + Written (PDF)
UNF	Lubin, Melanie	Individual	Oral
FWA	Bratsakis, John	MD\|DC Credit Union Association	Oral
FWA	Richards, Evanlobbyist	Maryland Bankers Association	Written (PDF)
FWA	Murray, Rorylobbyist	Individual	Oral + Written (PDF)
INFO	Harris, Mrs	District 25 Constituent	Position only
INFO	Hennen, Amy	Office of Financial Regulation, Maryland Department of Labor	Written (PDF)

Organizations on record

BCRWFAV 1

Chamber of ProgressFAV 1

CoinbaseFAV 3

District 25 ConstituentINFO 1

Economic Action Maryland FundUNF 1

Jonathan HarrisUNF 1

Maryland Bankers AssociationFWA 1

Maryland Office of Attorney General, Securities DivisionUNF 1

MD|DC Credit Union AssociationFWA 1

Office of Financial Regulation, Maryland Department of LaborINFO 1

Web3 MarylandFAV 1

Registered lobbyists who testified

FAVJanuary, BriannaChamber of ProgressRegistered for: Chamber of Progress

FAVSearcy, Katy AnnCoinbaseRegistered for: Coinbase, Inc.

UNFBevan-Dangel, JenniferEconomic Action Maryland FundRegistered for: Maryland Consumer Rights Coalition DBA Economic Action Maryland; Humane Society of the United States; Chesapeake Bay Foundation; Humane World for Animals

FWARichards, EvanMaryland Bankers AssociationRegistered for: Maryland Bankers Association

FWAMurray, RoryRegistered for: Alliance to Prevent Legionnaire's Disease; American Council of Engineering Companies/MD; Association of Independent Maryland and D.C. Schools; Chesapeake Watershed Restoration Professionals; Kaiser Permanente; Lightstar Renewables…