Maine’s Public Law 2025 Chapter 675 creates the state’s first dedicated framework for unclaimed virtual currency. The law sets reporting, native delivery and liquidation rules for exchanges, custodians and other holders, and introduces a five-year presumed dormancy period.
🔑 Key takeaways
- Public Law 2025 Chapter 675 signed on April 13, 2026 by Governor Janet Mills
- Effective date scheduled for July 29, 2026
- Five-year presumed abandonment period for dormant virtual currency
- Native delivery to the administrator required 30 days before report filing
- 1,000-dollar threshold triggering certified-mail notice 60 days before reporting
A dedicated legal framework for digital assets
Maine becomes one of the first US states to adopt a detailed dormancy regime for virtual currency. Public Law 2025 Chapter 675, originating from bill LD 1969 / HP 1313 introduced on May 13, 2025 by Representative Morgan Rielly of Westbrook, amends the Maine Revised Unclaimed Property Act by inserting a new section 33 MRSA §2067-A.
The adopted definition frames virtual currency as a « digital representation of value used as a medium of exchange, unit of account, or store of value ». The text explicitly excludes the value of loyalty cards and in-game digital content, mirroring the carve-outs already introduced by the 2019 S 481 statute.
« The law establishes virtual currency as a property type, defines the term and adds provisions for presumed abandonment and liquidation. »
Maine legislative summary, LD 1969
Holder obligations and liquidation procedures
The statute distinguishes two scenarios based on the holder’s technical capability. When the holder possesses the private keys, credentials or any other information required to transfer the assets, virtual currency must be delivered in native form within 30 days before the report is filed, following the administrator’s instructions – in this case the office of the Maine State Treasurer.
If the holder does not hold sufficient information to complete the transfer, the assets must be retained until the required details are obtained, without suspending the five-year clock. The administrator also retains the right to refuse any virtual currency that is not freely transferable, of nominal value, or whose value falls below expected handling costs.
Finally, the law allows the administrator to order liquidation within the same 30-day window. When assets are sold, claimants generally receive the net proceeds, or, in cases of early liquidation, a remedy calculated on the value set out in the amended section 2133.
State-by-state comparison of native-delivery regimes
| State | Bill | Signed on | Default delivery |
|---|---|---|---|
| Maine | PL 2025, ch. 675 (LD 1969) | April 13, 2026 | Native form |
| Alabama | HB104 | March 26, 2026 | Native form |
| Utah | HB519 | March 18, 2026 | Native form |
| Virginia | HB798 | April 13, 2026 | Native form |
Owner notices and reporting calendar
For virtual currency presumed abandoned under section 2067-A, the holder must send a certified-mail notice at least 60 days before the report is filed, provided a valid postal address is on file and the property value reaches 1,000 dollars. These thresholds mirror the due-diligence rules already broadened by the 2019 S 481 act, which had extended the 60-120-day window to 60-180 days.
The reporting calendar remains aligned with the general framework: reports are due before November 1, with specific categories due before May 1. The program continues to be administered by the office of the Maine State Treasurer.
The five-year clock starts on the last indication of interest from the apparent owner. If first-class mail is returned as undeliverable, the count runs from the date the mail is returned – a procedural innovation compared with earlier inactivity-based triggers.
A national trend around digital assets
Maine’s statute is part of a wider legislative wave observed across several US states since early 2026. Alabama enacted HB104 on March 26, 2026, requiring assets held in a digital-asset account to be turned over in native form at the end of the dormancy period, with liability released once the administrator orders liquidation. Due-diligence letters must now inform owners that their assets may be liquidated.
Utah updated its framework with HB519, signed on March 18, 2026 by Governor Spencer Cox, completing a pre-existing definition of virtual currency that had lacked detailed dormancy rules. In Virginia, Governor Abigail Spanberger signed HB798 on April 13, 2026 – the state’s first bill specifically addressing digital-asset dormancy.
« States are moving away from the term ‘virtual currency’ in favor of ‘digital assets’, using dormancy triggers based on returned mail rather than plain inactivity, and requiring delivery of these assets in native form rather than liquidation. »
Alston & Bird analysis, May 2026
Conclusion: towards harmonised dormancy regimes
Maine’s new law illustrates the gradual convergence of US states around a common framework for unclaimed digital assets. For exchanges, custodians and other holders, the operational challenge is now concrete: map dormant balances, adapt due-diligence workflows and prepare transfers to the State Treasurer within tight timelines.
In the longer run, the broad adoption of native delivery could limit the economic loss for owners while reducing liquidation costs for holders. The next step will likely depend on the federal adoption of a uniform framework inspired by the 2016 Revised Uniform Unclaimed Property Act (RUUPA).
Sources
- CryptoSlate – Maine Virtual-Currency Unclaimed Property Act
- Maine Legislature – HP 1313
- Witheisen – State Guide Maine
- Alston & Bird – Recent UP Digital Assets Legislation
- Georgeson – Maine Adopts RUUPA Inspired Act ME S 481
- Unclaimed.org – Maine Reporting
This article is for informational and educational purposes only. It does not constitute investment advice. Do your own research (DYOR) before making any decision.
