MD HB1355

Creates a new regulatory framework (Title 14) allowing nondepository trust companies to become "State Issuers" of payment stablecoins and authorizing both nondepository trust companies and credit union service organizations to operate as "Payment Stablecoin Services Institutions"

Designates Maryland's Office of Financial Regulation as the State Payment Stablecoin Regulator and requires the Commissioner of Financial Regulation to apply for federal certification under the Federal GENIUS Act of 2025

Reduces the examination fee for a new commercial bank charter from $15,000 to $7,000 and allows nondepository trust companies to request reduced capital stock requirements if safety and soundness are maintained

Prohibits certificate holders from making loans, accepting consumer deposits, accepting insured deposits, or representing that deposited funds are insured; payment stablecoin services institutions cannot issue stablecoins unless also authorized as State Issuers

Establishes a 60-day application review period with a $7,000 nonrefundable fee, grants the Commissioner authority to suspend or revoke certificates for violations, and takes effect January 1, 2027