Alaska (AK): Bitcoin and virtual-currency law

Summary

Alaska already requires a licence for virtual-currency transmission, and it does so by regulation. Since 2023-01-01, 3 AAC 13.005–.006 treat any money-transmission activity "in the form of virtual currency" as covered by the UMSA (AS 06.55). In 2026 the legislature passed two laws. Both became law on 2026-06-30 without Governor Dunleavy's signature:

• SB 249 creates a full crypto-kiosk regime from 2026-10-01: a $1,000 daily limit, a 10% fee cap and full refunds for fraud victims.
• SB 86 replaces the UMSA with an MTMA-based Money Transmission Act from 2027-07-01. It writes virtual-currency business activity into the statute and adds rules on abandoned virtual currency.

1. Money-transmitter licensing and virtual currency

• Current statute: AS 06.55, Alaska's UMSA. Its definition of "monetary value" (AS 06.55.990(10)) does not mention virtual currency.
• Regulations cover virtual currency. These rules are at 3 AAC 13, saved as AK-3-AAC-13-money-services-regs.html:
• 3 AAC 13.005: "An activity or transaction that would be covered as money transmission remains covered as money transmission if that activity or transaction is in the form of virtual currency."
• 3 AAC 13.006: "Beginning January 1, 2023," anyone doing licensable activity in virtual currency must apply through NMLS. Earlier "limited licensing agreement[s]" for virtual currency are "void".
• 3 AAC 13.990 defines "monetary value" as including virtual currency and defines "virtual currency". Virtual currency also counts as a permissible investment for obligations in the same currency.
• From 2027-07-01 (SB 86): the definition of "money transmission" expands to cover virtual-currency business activity, meaning exchanging, transferring, storing or administering virtual currency. Licensees must disclose fees, insurance status, risks and error-resolution rights, and must hold enough of each virtual currency to cover customer entitlements. NMLS licensing and risk-based surety bonds of up to $1M also apply (enrolled SB 86; secondary summary: PYMNTS, citing Sheppard Mullin).
• Effective date: secs. 1–65 and 75–78 take effect 2027-07-01 (SB 86 sec. 82).
• DBS's April 2026 white paper says the bill "Broadens the definition of money transmission in statute to include virtual currency transactions." DBS also says 31 states had adopted the model law in whole or in part as of 2025-06-05 (DBS white paper, saved as AK-DBS-MTMA-white-paper-2026-04-08.pdf).
• CSBS listing: "Alaska Money Transmission Act", Full MTMA: Yes, Virtual Currency Title: Yes, effective 2027-07-01 (CSBS MTMA enactments, 2026-10-08).

2. Virtual-currency-specific statutes and guidance

The DBS website (commerce.alaska.gov/web/dbs) refused automated access (HTTP 403) on 2026-10-09, so we could not check whether DBS has published separate virtual-currency guidance.

3. Crypto ATM / kiosk law

SB 249 (2026), ch. 50 SLA 26. Sponsor: Sen. Cathy Tilton. The bill passed the Senate, then the House as HCS CSSB 249(L&C), and the Senate concurred 20–0. It was transmitted to the governor on 2026-06-15 and became law without signature on 2026-06-30. Effective 2026-10-01 (bill history; enrolled text, saved as AK-SB249-2026-enrolled-ch50-SLA26-vc-kiosks.pdf). Its provisions are codified at AS 06.55.120–.195:

• Licence and prior approval:
• A kiosk operator needs a money-transmission licence.
• The operator must register each kiosk location and get DBS approval before placing it.
• "Money transmission" is amended to include "operating a virtual currency kiosk" (AS 06.55.990(15)).
• Limits: $1,000 per user per calendar day and $10,000 per user per 30 days, across all of the operator's products. Online or over-the-counter products may not be used to get around the limits.
• Fee cap: total fees may not exceed 10% of the transaction value. "Charges" include the spread between market price and the price charged.
• Refunds: a full refund, including charges and in the originating currency, for fraud-affected transactions. The user must notify the operator within 90 days and submit a police report, a DBS report or a sworn statement within 120 days of contacting the operator.
• Other duties:
• Disclosures before each transaction, and paper plus electronic receipts.
• A fraud and anti-money-laundering policy, and blockchain analytics.
• Notices in English and Spanish.
• Quarterly reports to DBS.
• Penalties:
• A violation is an unfair or deceptive trade practice under AS 45.50.471(b)(58).
• Unlicensed operation can lead to seizure of kiosks and forfeiture of all fees collected.
• Local rules: the law does not preempt stronger municipal ordinances (AS 06.55.190).
• Companion bills: HB 324 and HB 354 (2026) did not pass separately.

A news error to note: a Cryptopolitan article republished on MSN (2026-07-15) described SB 249 as a bill that "would require licensing". The legislature's own record shows it had already become law on 2026-06-30 (MSN/Cryptopolitan).

4. Tax treatment

• Alaska has no personal income tax and no statewide sales tax, so individuals owe no state tax on bitcoin gains. (The general tax facts are well known; we did not pull a specific source for them.)
• Alaska's corporate income tax follows federal taxable income with modifications. We found no Alaska Department of Revenue guidance specific to crypto.

5. Notable enforcement

6. Bills, 34th Legislature (2025–2026)

Pending: none. The 34th Legislature's 2026 session has adjourned and the next legislature convenes in January 2027.

Strategic bitcoin reserve: no reserve bill turned up in the legislature's "INVESTMENTS" or "SCIENCE & TECHNOLOGY" subject lists for the 34th Legislature (a keyword search of all bills was not possible, so treat as unverified).

7. Contested and fringe claims

• Governor's non-signature. Both bills became law without Governor Dunleavy's signature. We found no veto message or statement explaining why; any claim about his reasons is unverified.
• Kiosk-industry objections. Operators argue that 10% fee caps and $1,000 limits make kiosks uneconomic. Bitcoin Depot made this argument in Maine (see us-state-me.md), and its CEO blamed state rules when the company filed for bankruptcy in May 2026 (Gizmodo). Supporters (AARP, law enforcement) say the losses justify the rules.

Saved sources (sources/states/ak/)

See sources/states/ak/INDEX.md.

Gaps

• DBS web pages could not be fetched (HTTP 403), so any DBS consumer alerts or virtual-currency FAQs are unchecked.
• The year the UMSA took effect in Alaska is from memory (unverified).
• The Department of Law's own Bitcoin Depot notice was not retrieved; we have only the secondary report.