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Maine crypto unclaimed-property rules start July 29 amid reporting confusion

The new law presumes virtual currency is abandoned after five years, but the state’s holder reporting manual still shows a three-year dormancy period for virtual currency code VC02.

Reported · Written up by our desk · Regulation

Maine’s new virtual-currency unclaimed-property rules take effect July 29, with a five-year dormancy clock, but the rollout is creating compliance uncertainty for businesses that hold customer crypto, CryptoSlate reports.

The statute, Public Law Chapter 675 approved April 13, adds section 2067-A to Maine’s unclaimed-property law. It presumes virtual currency is abandoned five years after an apparent owner’s last indication of interest, or when first-class mail sent by a holder is returned as undeliverable, the dormancy period runs from that return date.

However, the State Treasurer’s 2026 Holder Reporting Manual currently lists VC02, virtual currency liquidated, with a three-year dormancy period. The manual provides a July 29 transition schedule for certain stored-value obligations but does not include a parallel schedule or guidance for how to classify balances that would become dormant under the new five-year rule.

Maine’s law also ties delivery duties to whether the holder has the private keys, credentials, or other information needed to transfer presumed-abandoned assets, and the timing of remittance depends on those transfer capabilities. For virtual currency worth at least $1,000, a holder must send certified U.S. mail at least 60 days before filing when it has a sufficient owner address not flagged as invalid, and liquidation is not automatic, with the administrator able to direct liquidation or alternative dispositions when liquidation is not reasonably possible.

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