Maine (ME): Bitcoin and virtual-currency law
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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.
Maine (ME): Bitcoin and virtual-currency law
| Field | Value |
|---|---|
| Jurisdiction | US state: Maine |
| Date checked | 2026-10-09 |
| Main regulator | Bureau of Consumer Credit Protection (BCCP), Department of Professional & Financial Regulation |
| Money-transmitter law | Maine Money Transmission Modernization Act (MMTMA), 32 M.R.S. § 6068 et seq., signed by Gov. Mills in 2024. CSBS lists it as the "Maine Money Transmitters Act": Full MTMA, effective 2024-08-09, Virtual Currency Title: Yes (CSBS) |
| Virtual currency covered? | Yes. The MMTMA's virtual-currency title applies, and the BCCP cites an "unhosted wallet provision" requiring money transmitters to make sure Maine consumers own and control their virtual wallets. |
| UMSA? / URVCBA? | No / No. The MTMA virtual-currency title draws on URVCBA concepts (our comparison). |
| Crypto ATM / kiosk law | Yes. LD 1339, "An Act to Regulate Virtual Currency Kiosks", Public Law 2025, chapter 285, emergency measure effective 2025-06-12. The "Maine Virtual Currency Kiosk Act": operator licensing; charges capped at the greater of $5 and 3% (the lowest cap in this file); $1,000 per day; refunds for transactions within 90 days of the first transaction. LD 1998 (Public Law 2026, ch. 542, signed 2026-03-03) bars bank-style cash-dispensing machines from being run as crypto kiosks without a money-transmitter licence. |
Summary
Maine has one of the strictest kiosk regimes short of a ban. Its 3% fee cap led local operator Maine Bitcoin LLC to close, saying it "costs about eight times as much money to operate kiosks as what the new law allows it to charge" (Bangor Daily News, 2025-07-30).
On 2026-01-05 the BCCP announced a $1.9M consent agreement with Bitcoin Depot to compensate Mainers defrauded through its kiosks; Bitcoin Depot received a Maine money-transmitter licence as part of the deal. Bitcoin Depot filed for Chapter 11 in May 2026.
1. Money-transmitter licensing and virtual currency
- MMTMA (2024), 32 M.R.S. § 6068 et seq. Effective 2024-08-09 (CSBS). It includes the MTMA virtual-currency title.
- BCCP Superintendent Linda Conti, 2026-01-05: Maine's laws "include the unhosted wallet provision under Maine law, which requires money transmitters to employ new technologies to ensure that Maine consumers own and control their virtual wallets" (BCCP press release, saved).
2. Virtual-currency-specific statutes and guidance
| Law | What it does | Status | Source |
|---|---|---|---|
| MMTMA (2024) | Money transmission including virtual currency | In force, effective 2024-08-09 (CSBS) | CSBS; BCCP release |
| P.L. 2025, ch. 285 (LD 1339), Sen. Chip Curry, requested by the governor's administration | Maine Virtual Currency Kiosk Act (32 M.R.S. § 6161 et seq. (section range inferred from § 6170 in the text)) | Emergency; effective 2025-06-12 | P.L. 285 PDF (BCCP) (saved); OPLA enacted-law summary |
| P.L. 2026, ch. 542 (LD 1998, SP 811) | Cash-dispensing machines may register through NMLS, and may not be operated as virtual-currency kiosks unless the operator is a licensed money transmitter | Signed 2026-03-03 (enacted 2026-03-03) | bill status; bill text (saved); Orrick InfoBytes |
| 2026 unclaimed-property law allowing delivery of digital assets in native form | Reported by Eversheds Sutherland | 2026; bill number not identified (unverified) | JD Supra |
3. Crypto ATM / kiosk law
P.L. 2025, ch. 285 (LD 1339), effective 2025-06-12 (emergency). OPLA summary and act text:
- Kiosk operators must be licensed.
- "It caps transaction charges at the greater of $5 and 3% of the dollar amount of the transaction."
- "It establishes a $1,000 per day transaction limit per customer."
- Disclosures and receipts (amount, fees, transaction hash, destination address, exchange rate).
- Refunds: "A virtual currency kiosk operator shall issue a refund to a customer for the full amount of all transactions made within 90 days of the customer's first virtual currency kiosk transaction ... including any transaction charges". The customer must have been "induced ... by fraud or by an unfair, deceptive or abusive practice" and must apply within one year with a sworn statement (text excerpt).
- Customers cannot waive these rights.
Legislative history: - Passed as an emergency measure, with every House member but one voting yes (the clerk had no record of who voted no). - Supported by AARP Maine and AG Aaron Frey. - Bitcoin Depot supported some provisions but warned the 3% cap "would be the lowest in the country and cause operators to leave the state" (Bangor Daily News).
4. Tax treatment
No Maine Revenue Services crypto guidance was retrieved (gap).
5. Notable enforcement
| Date | Action | Source |
|---|---|---|
| 2026-01-05 | BCCP consent agreement with Bitcoin Depot: $1.9M to compensate Maine victims of third-party scams. Bitcoin Depot agreed to comply fully and to operate as a licensed money transmitter. The settlement ended a two-year investigation (Yahoo). | BCCP release (saved); settlement page (saved) |
| 2025 | Maine Bitcoin LLC closed its kiosks (36+ across Maine and New Hampshire, operating since 2016), blaming the new law. Its founder called it "disguised to destroy the industry". | Bangor Daily News |
| 2026-10-08 | Coinme multistate settlement; Maine is not among the 34 participating agencies listed in Appendix A Coinme consent order, App. A–B (completeness check, 2026-10-09) | CSBS |
6. Bills, 132nd Legislature (2025–2026)
| Bill | Subject | Status |
|---|---|---|
| LD 1339 (2025) | Virtual currency kiosks | P.L. 2025, ch. 285; effective 2025-06-12 |
| LD 1998 / SP 811 (2026) | Cash-dispensing machines through NMLS; no kiosk operation without a money-transmitter licence | P.L. 2026, ch. 542; signed 2026-03-03 |
| LD 1286 | Resolve to establish a commission to study blockchain and cryptocurrency and the risks of fraud | Died on adjournment (2026-04-29, per tracker) |
Pending: none. The 132nd Legislature has adjourned and the 133rd convenes in December 2026.
7. Contested and fringe claims
- "Disguised to destroy the industry." That is the founder of Maine Bitcoin LLC, writing on social media. Sen. Curry replied that his "top concern is protecting the residents of my community from theft, not propping up a business model that facilitates theft as a source of profit." This is the clearest local example of the "regulate or eliminate" dispute.
- Bitcoin Depot. It is listed among Maine licensees after the settlement, but Yahoo reported that "Maine is not listed among its active locations on the company's website". The company then filed for Chapter 11 in May 2026.
Saved sources (sources/states/me/)
See sources/states/me/INDEX.md.
Gaps
- The MMTMA's enacting public-law chapter and the text of the "unhosted wallet provision".
- The 2026 unclaimed digital-asset law's number.
- Maine Revenue Services guidance.