Crypto holders face a July 29 Maine deadline as state manual conflicts on when abandoned funds trigger seizure
Maine’s new virtual-currency unclaimed-property rule takes effect July 29 and sets a five-year dormancy period, but the Treasurer’s current holder manual still lists virtual currency as dormant after three years. That mismatch leaves businesses holding customer crypto without clear transition guidance or a stated first reporting cycle. Under the new law, virtual currency is presumed abandoned five years after the owner’s last sign of interest, or from the return of a regular first-class mailing as undeliverable. Holders with the needed private keys or credentials must report and deliver crypto in native form within 30 days before filing, following administrator instructions; holders without transfer access retain the assets until transfer becomes possible. For balances worth at least $1,000, certified mail notice is required at least 60 days before filing if a valid owner address exists. The administrator may also direct liquidation or other treatment, but the manual does not explain how its three-year VC02 entry fits the new law.
