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MaineLD 1339132nd Maine Legislature (2025-2026)SenateWALLET

An Act to Regulate Virtual Currency Kiosks

Sponsored By: Glenn Curry

Signed by Governor

FINANCIAL PRACTICESFINANCIAL PRACTICES - AUTOMATIC TELLER MACHINES

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Bill Overview

Analyzed Economic Effects

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

Lower kiosk fees and stronger customer protections

The law caps kiosk fees at the higher of $5 or 3% per transaction. Before you buy or sell, kiosks must clearly show risks and the exchange rate. At your request, you get a paper or electronic receipt. It lists amounts, fees, and the exchange rate. It also shows the blockchain transaction hash, destination address, and the operator’s name and license. If fraud or an unfair or deceptive practice induced you, the operator must refund you in full. The refund covers all transactions and fees made within 90 days of your first transaction with that operator. You must file a sworn report with a government or law enforcement agency within one year of the last transaction. Any waiver of these rights is void.

Licenses and data rules for kiosk operators

Kiosk operators must hold a money transmitter license. An exemption applies only if sections 6074 or 6075 cover the operator. Operators must give the bureau the street address of each kiosk in Maine. They must keep records for at least 3 years, including customer data, recordings, and any biometric data. The administrator sets information security rules consistent with the Gramm-Leach-Bliley Act and FTC rules.

Daily $1,000 limit at kiosks

Operators may not accept or pay out more than $1,000 per customer in one day across their kiosks. This cap counts all your activity with the same operator. It limits big same-day transfers and helps curb losses from scams.

Statewide rules and oversight for virtual currency kiosks

The law creates the Maine Virtual Currency Kiosk Act. It defines key terms like blockchain, transaction hash, kiosk, and operator. Existing licensing, examination, and enforcement tools apply to these kiosks. By February 1, 2026, the Superintendent must report to lawmakers on protecting kiosk customers from fraud.

Sponsors & Cosponsors

Sponsor

  • Glenn Curry

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Signed by Governor, ACTPUB Chapter 285

    6/12/2025

  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

  • Amendment C-A (S-300), adopted by House & Senate

    PDF

  • Enacted

    PDF

  • Introduced

    PDF

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