Bureau Publishes Revised Money Transmitter Rule for Comment

May 21, 2025

The Bureau has published proposed Rule 709 (rev.) - License and Renewal Fees and Application Requirements for Maine's Money Transmitter Licensing and Requirements for Licensing Through the Nationwide Multistate Licensing System (NMLS) - for comment. This rule amends Chapter 709 as it pertains to reporting requirements for unhosted cryptocurrency wallets. The existing provisions have proven difficult or impossible for industry to comply with and new methods have been developed and are being implemented to address the concerns surrounding unhosted wallets. The comment deadline for this rule is July 1, 2025.

For more information and additional copies of the proposed rule, visit the Bureau's proposed rules page HERE.

Attachments

Proposed Rule 709 (rev.) (DOCX)

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