Maine § 32 §6100-OO Definitions

Maine Statutes

§ 32 §6100-OO — Definitions

Maine § 32 §6100-OO

Title 32PROFESSIONS AND OCCUPATIONS

Ch. 79-AMONEY TRANSMITTERS

This text of Maine § 32 §6100-OO (Definitions) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 32, § 32 §6100-OO (2026).

Text

For the purposes of this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

1.Asymmetric cryptosystem. "Asymmetric cryptosystem" means an algorithm or series of algorithms that provide a secure key pair, a public key and a private key.

2.Control of virtual currency. "Control of virtual currency," when used in reference to a transaction or relationship involving virtual currency, means the power to execute unilaterally or prevent indefinitely a virtual currency transaction.

3.Digital signature. "Digital signature" means an electronic signature that transforms a message by using an asymmetric cryptosystem.

4.Exchange. "Exchange" means to assume control of virtual currency from or on behalf of a person, at least momentarily, to sell, trade

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For the purposes of this subchapter, unless the context otherwise indicates, the following terms have the following meanings.
1.
Asymmetric cryptosystem.
"Asymmetric cryptosystem" means an algorithm or series of algorithms that provide a secure key pair, a public key and a private key.
2.
Control of virtual currency.
"Control of virtual currency," when used in reference to a transaction or relationship involving virtual currency, means the power to execute unilaterally or prevent indefinitely a virtual currency transaction.
3.
Digital signature.
"Digital signature" means an electronic signature that transforms a message by using an asymmetric cryptosystem.
4.
Exchange.
"Exchange" means to assume control of virtual currency from or on behalf of a person, at least momentarily, to sell, trade or convert:
5.
Private key.
"Private key" means the key of a key pair used to verify a digital signature.
6.
Public key.
"Public key" means the key of a key pair used to create a digital signature.
7.
Transfer.
"Transfer" means to assume control of virtual currency from or on behalf of a person and to:
8.
Unhosted wallet.
"Unhosted wallet" means a wallet that is owned, held or controlled by an individual owner other than a 3rd party or a custodian. "Unhosted wallet" also means a wallet that is not owned, held or controlled by a licensee or a supervised financial organization as defined in Title 9‑A, section 1‑301, subsection 38‑A.
9.
United States dollar equivalent of virtual currency.
"United States dollar equivalent of virtual currency" means the equivalent value of a particular virtual currency in United States dollars shown on a virtual currency exchange based in the United States for a particular date or period specified in this Act.
10.
Virtual currency.
"Virtual currency" means a digital representation of value that:
11.
Virtual currency administration.
"Virtual currency administration" means issuing virtual currency with the authority to redeem the currency for money, bank credit or other virtual currency.
12.
Virtual currency business activity.
"Virtual currency business activity" means:
13.
Virtual currency control-services vendor.
"Virtual currency control-services vendor" means a person that has control of virtual currency solely under an agreement with a person that, on behalf of another person, assumes control of virtual currency.
14.
Wallet.
"Wallet" means a physical device, a writing, a receipt or any digital or electronic technology that allows an individual owner or a custodian the ability to directly or indirectly control a private key for a digital signature for the purpose of money transmission.