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LD 1339

An Act To Regulate Virtual Currency Kiosks

132nd Legislature (2025-2026) Introduced by Chip Curry

Mandates licensing and state oversight of virtual currency kiosks in Maine, forcing operators to obtain DPFR licenses and pay fees to protect consumers and ensure compliance.

Signed by Governor
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Bill Summary · LD 1339

Summary — LD 1339: An Act To Regulate Virtual Currency Kiosks

Status: Signed by Governor (June 12, 2025).
Introduced: March 28, 2025.
Sponsor: Sen. Curry of Waldo.
Committee: Health Coverage, Insurance and Financial Services.
Classification: Emergency measure (required two‑thirds vote).

Purpose

LD 1339 establishes a regulatory framework for operators of virtual currency kiosks in Maine. Its primary intent is to bring kiosk operators under state oversight by requiring licensing and related regulatory compliance administered by the Maine Department of Professional and Financial Regulation (DPFR).

Key provisions

  • Requires operators of virtual currency kiosks to obtain a license from the Department of Professional and Financial Regulation (DPFR).
  • Establishes an application fee for virtual currency kiosk operator licenses (fee amount not specified in the available fiscal documents).
  • Grants DPFR authority to implement the licensing program and related oversight responsibilities necessary to regulate kiosk operations (administrative details and enforcement provisions are addressed in the bill text and committee amendment but are not detailed in the fiscal notes).
  • Enacted as an emergency measure, making the law effective immediately upon signature (consistent with Maine practice for emergency bills).

Note: The enacted version includes Committee Amendment “A” (S‑300); the amendment was adopted before final passage.

Who is affected

  • Virtual currency kiosk operators and owners (primary direct effect): required to apply for and maintain a state license and pay the associated application fee.
  • Consumers who use virtual currency kiosks (indirect effect): may see changes in kiosk availability, consumer protections, and operator practices as regulation is implemented.
  • Maine Department of Professional and Financial Regulation: responsible for licensing, oversight and any enforcement actions related to kiosks.
  • Businesses colocating kiosks (retailers, convenience stores, etc.) may be affected by operator compliance and contractual arrangements.

Fiscal impact

  • DPFR: minor additional administrative costs expected, which the fiscal notes state can be absorbed within existing budgeted resources.
  • Revenue: a minor increase to Other Special Revenue Funds is expected from license application fees.
    Three fiscal notes (preliminary and as amended) consistently report “minor” cost and revenue impacts.

Legislative and procedural history (selected)

  • 2025-03-28: Referred to committee.
  • 2025-05-01: Work session; committee voted OTP‑AM (reported out with amendment).
  • 2025-06-05: Committee Amendment “A” (S‑300) adopted.
  • 2025-06-09: Passed to be enacted (emergency measure); ordered sent for concurrence; recorded on Consent Calendar.
  • 2025-06-12: Signed by the Governor; effective immediately as an emergency law.

Expected effects and considerations

  • The bill formalizes state oversight of virtual currency kiosks, likely improving regulator visibility into kiosk operations and creating a licensing compliance burden for operators.
  • The regulatory framework may enhance consumer protections and facilitate oversight for financial practices related to kiosks, though specific consumer‑protection provisions are in the bill text itself.
  • Financial impact on state government is small and largely self‑funded by licensing fees per the fiscal notes.

For full legal text and specifics on licensing criteria, fees, enforcement and any consumer‑protection measures, consult the enrolled bill (LD 1339, as engrossed with Committee Amendment A) or the Maine legislative website.

Compiled from official sources — confirm details with the bill’s official record.

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