Maine Bitcoin Reserves and Cryptocurrency Laws

Maine Bitcoin Reserves and Cryptocurrency Legislation

Maine Bitcoin Reserve Overview

No Official Reserves
Neutral Regulatory Status
Updated Money Transmission Laws

Maine Bitcoin Reserves

Maine Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
Maine (ME)	No Official Reserves	0%	Neutral	2025-01-15	Money Transmission Modernization Act (LD 2112, 2024): Effective July 16, 2024; regulates virtual currency as money transmission, requiring licenses for crypto-fiat transactions 32 MRSA §6102(10) (2021): Explicitly includes virtual currency in the definition of money transmission LD 990 (2023): Proposed special purpose depository institutions for digital assets; not passed No state-specific sales or use tax guidance on virtual currency State income tax (5.8–7.15%) and federal capital gains tax (15–20%) apply to crypto earnings ~30,000 residents (~2% of population) use crypto; $500M in transactions (2023–2024, est.) Approximately 5 Bitcoin ATMs, primarily in Portland (2024) No legislation for state-held Bitcoin reserves as of 2025

Maine Bitcoin Reserve Status

Current status: NO OFFICIAL RESERVES

Maine has not established a state Bitcoin reserve, and no legislation for such a reserve has been proposed as of 2025. The state has taken a cautious approach to cryptocurrency regulation, with the Money Transmission Modernization Act (LD 2112, 2024) clarifying virtual currency regulations. Maine’s regulatory framework focuses on licensing crypto businesses while maintaining a neutral stance on broader crypto adoption.

No funds have been allocated for Bitcoin reserves. Maine prioritizes regulatory clarity for crypto transactions over state-held cryptocurrency reserves.

7/16/2024

SIGNED INTO LAW

The Money Transmission Modernization Act (LD 2112) took effect, replacing the Money Transmitters Act and regulating virtual currency as money transmission, requiring licenses for crypto-fiat transactions.

4/4/2023

PROPOSED

LD 990 was introduced, proposing special purpose depository institutions for digital assets; the bill did not pass.

10/18/2021

REGULATORY UPDATE

32 MRSA §6102(10) was updated to explicitly include virtual currency in the definition of money transmission, aligning Maine with broader regulatory trends.

Maine Bitcoin Reserves and Cryptocurrency Legislation

Maine Bitcoin Reserve Overview