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ME LD1205
Bill
AI Summary
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Virtual currency kiosk operators in Maine must obtain a money transmitter license and are limited to accepting or dispensing no more than $1,000 per customer per day
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Transaction fees are capped at the greater of $5 or 3% of the U.S. dollar equivalent of the virtual currency involved in the transaction
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Kiosk operators who allow third parties to conduct virtual currency business through their machines must ensure those parties are properly licensed and compliant with all applicable regulations
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Commissioner of Professional and Financial Regulation must submit a report by December 3, 2025 with findings and recommendations on protecting kiosk customers from fraud
Legislative Description
An Act to Set Limits on Virtual Currency Kiosks
Financial Practices
Last Action
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
5/22/2025