Maine § 32 §6100-TT Additional requirements for virtual currency business activities

Maine Statutes

§ 32 §6100-TT — Additional requirements for virtual currency business activities

Maine·Title 32 PROFESSIONS AND OCCUPATIONS·Ch. 79-A MONEY TRANSMITTERS

Additional requirements for virtual currency business activities are governed by this section.

1.Compliance. A licensee engaged in virtual currency business activities shall comply with all provisions of this Act to the extent applicable to the licensee's activities.

2.Tangible net worth calculation. A licensee engaged in virtual currency business activities may include in its calculation of tangible net worth virtual currency, measured by the average value of the virtual currency in United States dollar equivalent of virtual currency over the prior 6 months, excluding control of virtual currency for a person entitled to the protections pursuant to section 6100‑SS.

3.Records. A licensee shall maintain, for all virtual currency business activity with or on behalf of a person 5 years afte

Free access — add to your briefcase to read the full text and ask questions with AI

Additional requirements for virtual currency business activities are governed by this section.
1.
Compliance.
A licensee engaged in virtual currency business activities shall comply with all provisions of this Act to the extent applicable to the licensee's activities.
2.
Tangible net worth calculation.
A licensee engaged in virtual currency business activities may include in its calculation of tangible net worth virtual currency, measured by the average value of the virtual currency in United States dollar equivalent of virtual currency over the prior 6 months, excluding control of virtual currency for a person entitled to the protections pursuant to section 6100‑SS.
3.
Records.
A licensee shall maintain, for all virtual currency business activity with or on behalf of a person 5 years after the date of the activity, a record of:
4.
Form of records.
A licensee shall maintain records required by subsection 3 in a form that enables the administrator to determine whether the licensee is in compliance with this Act, a court order, a federal law and a law of this State other than this Act.

Maine § 32 §6100-TT (Additional requirements for virtual currency business activities) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.