Bill removes requirements for unhosted wallets in Maine's Money Transmission Modernization Act.
The bill repeals sections of the Maine Money Transmission Modernization Act that contain requirements for unhosted wallets. These repealed provisions were set to take effect on January 1, 2025, but the bill aims to address concerns about marketplace stability for digital asset businesses and consumers in Maine. The urgency of this legislation is underscored by the legislature's determination that it is immediately necessary for the public peace, health, and safety.
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