Maryland: Crypto Task Force and Legislation

Task force: ActiveReserve: FailedKiosks: Law

Task force or study body Confirmed

Digital Asset and Blockchain Technology Task Force · Active

• Created by: HB 470 / Chapter 548, Acts of 2026 (cross-file SB 376), by Dels. Boafo, Amprey, Taylor and Vogel; House passed Mar 23, 2026 (131-7), Senate passed Apr 6, 2026 (46-0), approved by Gov. Wes Moore May 12, 2026; effective July 1, 2026; abrogated June 30, 2028.
• Organized by: Maryland General Assembly (statute); staffed by the Office of Financial Regulation, Maryland Department of Labor.
• Led by: Chair is elected by task force members. The Maryland Manual lists the chair as vacant (Maryland Manual 2026 edition; exact page date not stated).
• Members: 15 members: 2 senators (Senate President) and 2 delegates (Speaker); ex officio or designees - Comptroller Brooke E. Lierman, State Treasurer Dereck E. Davis, Commerce Secretary Harry Coker Jr., IT Secretary Katie Olson Savage, Labor Secretary Portia Y. Wu, Securities Commissioner Melanie Senter Lubin; 5 Governor appointees (2 financial services industry, 1 economics faculty member, 2 Maryland Blockchain Association representatives). The Manual lists Jacqueline Cooper and Michael Padhi, Ph.D., as Governor appointees and several vacancies.
• Outputs and timeline: Final report due Oct 1, 2027 to the Governor, General Assembly, Senate Finance and House Economic Matters committees. No meetings or reports found yet.

Sources: Maryland Manual - Digital Asset and Blockchain Technology Task Force, Chapter 548 (HB 470) text, HB 470 (2026) bill page

A 2025 version (HB 454, Dels. Boafo and Vogel) received a House hearing Jan 28, 2025 and did not become law; the page shows no later action. A press-release placement by the Maryland Blockchain Association (a trade group) describes the 2026 signing and attributes sponsorship differently than the Maryland General Assembly page; the General Assembly page is used here.

Bitcoin or digital asset reserve law Confirmed

HB 1389 (2025, Del. Young, 'Strategic Bitcoin Reserve Act of Maryland') would have created a Maryland Bitcoin Reserve Fund; last status shown was a Judiciary hearing on Mar 11, 2025 with no further action. HB 51 (2026, Del. Taveras, 'Strategic Digital Asset Reserve Act of Maryland') would have created a Digital Asset Reserve Fund; last status shown is a hearing on Feb 3, 2026 with no later action. Neither was enacted per the General Assembly pages (both sessions have since adjourned).

Sources: HB 1389 (2025), HB 51 (2026)

Licensing Confirmed

Maryland licenses money transmitters under Financial Institutions Article Title 12, Subtitle 4 through the Office of Financial Regulation (NMLS); per the SB 305 fiscal note, 2021 legislation extended money transmitter regulation to virtual currency. Virtual currency kiosk operators must also register (see kiosks). The 2026 Maryland Financial Innovation Act (SB 759/HB 859) was not enacted per the General Assembly page.

Sources: SB 305 (2025) fiscal and policy note, SB 759 (2026) bill page

Crypto kiosks (ATMs) Confirmed

SB 305 (Ch. 117, Acts of 2025) requires virtual currency kiosk operators and each kiosk to register with the Commissioner of Financial Regulation; per the Third Reader fiscal note: effective July 1, 2025 with registration from Jan 1, 2026, daily limits of $2,000 for new users and $10,500 for experienced users, fee cap of the greater of $5 or 15%, on-screen risk disclosures, live support, refunds of fees on verified fraud, civil penalties up to $1,000 per violation. Implementing regulations (COMAR 09.03.16) were adopted Mar 24, 2026 and took effect Mar 30, 2026. The final enacted text was not compared with the Third Reader note.

Sources: OFR advisory - kiosk registration (Dec 3, 2025 proposed rules notice), OFR advisory - final action on COMAR 09.03.16, SB 305 (2025) fiscal and policy note

Other 2025 to 2026 actions

• 2026-05-12: HB 1355 / SB 662, the Maryland Stablecoin Act (payment stablecoin services; bank-charter and nondepository trust company provisions), approved as Ch. 514, effective Jan 1, 2027 (House 130-1, Senate 46-0). The page's synopsis was ambiguous, so the specific licensing terms were not confirmed.
• 2026-05 (week of May 14, per press release): SB 168 (2026) directs the State Department of Assessments and Taxation to study blockchain for real property records, report by end of 2026. Sourced only to a paid trade-association press release; not verified on mgaleg.maryland.gov.
• 2026-02 to 2026-04: Other 2026 crypto bills did not reach the Governor per General Assembly pages: SB 154 (UCC controllable electronic records, passed Senate 43-0 Feb 19, 2026, stalled in House committee) and SB 759/HB 859 (Maryland Financial Innovation Act, digital asset staking; stalled in Senate Finance).

Sources: HB 1355 (2026) bill page, Maryland Blockchain Association press release via Valdosta Daily Times (secondary, promotional), SB 154 (2026), SB 759 (2026), 2026 cryptocurrency subject index

Source notes: Task force: chair and several appointee seats vacant per the Maryland Manual (page date not stated); task force just started (effective July 1, 2026), so membership will change. Kiosk limits come from the Third Reader fiscal note, not the enacted chapter. Stablecoin Act details unconfirmed. Mgaleg status lines can lag final outcomes; none of the failed bills showed a post-session update.