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Maine enacts law restricting cash-dispensing machines from use as virtual currency kiosks

March 13, 2026

On March 3, Maine enacted Public Law Chapter 542, authorizing the registration of certain cash-dispensing machines through the NMLS and adding an express prohibition on operating such machines as virtual currency kiosks unless the operator is licensed as a money transmitter under state law. The law maintains existing statutory requirements, including that cash-dispensing machines may not accept deposits, loan payments, or account transfers other than between a customer’s own accounts at the same financial institution, and that such machines must comply with the EFTA. The law further maintains existing registration fees of $50 for a first cash-dispensing machine location and $25 for each additional cash-dispensing machine, increases the administrator’s daily noncompliance fine from $5 to $25, and authorizes the administrator to require background checks, collect NMLS processing fees, and set renewal deadlines. The law also requires operators registering through NMLS to include their unique identifier in certain filings. The law takes effect 90 days following the end of the current legislative session, which is set for April 15.