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MaineLD 1339132nd Maine Legislature (2025-2026)SenateWALLET

An Act to Regulate Virtual Currency Kiosks

Sponsored By: Chip Curry (Democratic)

Became Law

FINANCIAL PRACTICESFINANCIAL PRACTICES - AUTOMATIC TELLER MACHINES

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 1 costs, 1 mixed.

Refunds after fraud at virtual currency kiosks

If fraud or an unfair, deceptive, or abusive practice led you to use a kiosk, you get a full refund. The refund covers all transactions within 90 days of your first transaction with that operator, including fees. To qualify, you must file a report with a government or law enforcement agency within one year of your last induced transaction. The report must include a sworn statement and enough details to identify the transactions. Any waiver of these rights is void.

Kiosk fee cap and daily limit

Operators cannot charge more than the greater of $5 or 3% per kiosk transaction. You also cannot send or receive more than $1,000 in one day at kiosks run by the same operator.

Clear risk warnings and receipts at kiosks

Before you use a virtual currency kiosk, the operator must show clear warnings about risks like fraud or loss. It must also show the exchange rates it charges. On request, you can get a paper or electronic receipt with your name, date and time, operator name and license, amounts and fees, the exchange rate, the transaction hash, and the destination address.

Licensing and security rules for kiosk operators

Kiosk operators in Maine must be licensed as money transmitters unless a statutory exemption applies. Operators must give the state the physical locations of their kiosks. They must keep transaction records for at least 3 years, including name, address, date of birth, ID number, video, and any biometric data collected. They must maintain an information security program under rules aligned with federal privacy and security standards. The state can use its existing enforcement tools to oversee and take action.

Sponsors & Cosponsors

Sponsor

  • Chip Curry

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. ACTPUB Chapter 285

    5/1/2026

  2. PASSED TO BE ENACTED - Emergency - 2/3 Elected Required, in concurrence.

    6/10/2025Senate

  3. This being an emergency measure, a two-thirds vote of all the members elected to the House was necessary.PASSED TO BE ENACTED.Sent for concurrence. ORDERED SENT FORTHWITH.

    6/9/2025House

  4. CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-300).In concurrence. ORDERED SENT FORTHWITH.

    6/9/2025House

  5. Report READ and ACCEPTED.READ ONCE.Committee Amendment "A" (S-300) READ and ADOPTED.Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-300).Ordered sent down forthwith for concurrence.

    6/5/2025Senate

  6. Received by the Secretary of the Senate on March 28, 2025 and REFERRED to the Committee on HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES pursuant to Joint Rule 308.2

    3/28/2025Senate

Bill Text

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