Maine Public Law 2025, chapter 675, enacted through LD 1969 / HP 1313, amends the Maine Revised Unclaimed Property Act to add virtual currency-specific abandonment, reporting, custody, liquidation, and owner-recovery provisions. As of July 28, 2026, the measure has been signed by the Governor and is scheduled to take effect on July 29, 2026, the Legislature’s general effective date for nonemergency laws from the 132nd Legislature’s Second Regular Session.
What the Maine virtual-currency unclaimed-property amendment does
The amendment establishes virtual currency as a recognized property type under Maine’s unclaimed-property framework. The chaptered law defines virtual currency as a digital representation of value used as a medium of exchange, unit of account, or store of value, while excluding specified loyalty-card value and game-related digital content. The Legislature’s enacted-law summary states that the law establishes virtual currency as a property type, defines the term, and adds provisions for presumed abandonment and liquidation.
Key provisions for abandoned virtual currency
The new 33 MRSA §2067-A provides that virtual currency is presumed abandoned five years after the apparent owner’s last indication of interest. If ordinary-course first-class mail is returned as undeliverable, the five-year period runs from the returned-mail date.
- Native-form remittance: A holder with private keys, credentials, or other information needed to transfer abandoned virtual currency must report it and deliver it in native form within 30 days before filing the report, following the administrator’s directions.
- Insufficient transfer information: A holder that lacks enough information to transfer the virtual currency must maintain possession until it acquires the information needed to effectuate transfer.
- Liquidation discretion: The administrator may decline virtual currency that is not freely transferable, nominal in value, or worth less than expected costs, and may direct a holder to liquidate virtual currency within 30 days before the report is filed.
- Owner recovery after sale: If virtual currency is sold, claimants generally receive the net proceeds or, in specified early-sale cases, a value-based remedy described in amended §2133.
Notice, reporting, and administration
The law also amends owner-notice provisions. For virtual currency presumed abandoned under §2067-A, a holder must send certified-mail notice at least 60 days before filing the report if it has a valid mailing address and the property value is $1,000 or more. Existing Maine unclaimed-property reporting rules generally require reports before November 1, except for specified May 1 reporting categories. Maine’s Office of the State Treasurer administers the unclaimed-property program.
Status and timeline
| Date | Event |
|---|---|
| May 13, 2025 | LD 1969 / HP 1313 introduced and ordered printed. |
| June 25, 2025 | Bill carried over to a later session of the 132nd Legislature. |
| April 6, 2026 | Senate passed the bill to be enacted, in concurrence. |
| April 13, 2026 | Governor signed the measure as Public Law 2025, chapter 675. |
| July 29, 2026 | Scheduled general effective date for nonemergency laws from the Second Regular Session. |
LD 1969 was sponsored by Representative Morgan Rielly of Westbrook, referred to the State and Local Government Committee, passed both chambers in April 2026, and was signed by the Governor on April 13, 2026. Because the general effective date falls on July 29, 2026, this profile should be reviewed immediately after that date to update the current status from Enacted to Effective once codification is confirmed.