Maine § 6164. - Definitions

§ 6164.. Definitions

Terms defined in the Maine Money Transmission Modernization Act have the same meanings when used in this subchapter. Additionally, as used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2025, c. 285, §2 (NEW).]

1.  Blockchain.  "Blockchain" means distributed ledger technologies where data are shared across a network that creates a digital ledger of verified transactions or information among network participants and the data are typically linked using cryptology to maintain the integrity of the ledger and execute other functions, including transfer of ownership or value.

2.  Transaction hash.  "Transaction hash" means a unique identifier made up of a string of characters that acts as a record of and provides proof that a virtual currency transaction was verified and added to the blockchain.

3.  Virtual currency kiosk.  "Virtual currency kiosk" means an automated, unstaffed electronic machine that is capable of facilitating the transfer of value to a public key that is recorded on a blockchain as directed by the sender at the virtual currency kiosk or at a later time by other means facilitated by the virtual currency kiosk operator.

4.  Virtual currency kiosk operator.  "Virtual currency kiosk operator" means a person that owns, operates or manages a virtual currency kiosk located in this State through which virtual currency business activity is offered.

5.  Virtual currency kiosk transaction.  "Virtual currency kiosk transaction" means a transaction conducted or performed, in whole or in part, by electronic means via a virtual currency kiosk. "Virtual currency kiosk transaction" also means a transaction made at a virtual currency kiosk to purchase virtual currency with fiat currency or to sell virtual currency for fiat currency.