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Task force or study body None found
No digital assets, blockchain or crypto task force, commission or study committee found. We searched: Searched for Minnesota blockchain/cryptocurrency/digital asset/fintech task forces, working groups, advisory councils and commissions (legislature, Department of Commerce, Governor). Only found older introduced bills mentioned in a 2023 law-firm summary (e.g., HF 1078) with no detail, and a federal-level (not state) fintech task force item unrelated to the state.
Status 'no' means none found; the Freeman Law page we read was last modified Dec 2023 and is not authoritative.
Bitcoin or digital asset reserve law Reported
SF 2661 / HF 2946, the 'Minnesota Bitcoin Act' (Sen. Jeremy Miller, with Sen. Calvin Bahr; introduced March 17, 2025), would have let agencies accept crypto payments, authorized the State Board of Investment to hold crypto, and created income-tax subtractions; it is not a reserve fund as such. The Senate page shows last action March 24, 2025 (still in State and Local Government); CryptoSlate reports it expired at the 2026 adjournment. Not enacted.
Sources: SF 2661, Minnesota Revisor (primary), HF 2946, Minnesota Revisor (primary; seen in search results only), CryptoSlate profile of SF 2661 (secondary)
Licensing Confirmed
Minnesota Statutes chapter 53B (money transmission) includes a virtual currency subchapter (53B.69-53B.74) adopted with the 2023 Money Transmission Modernization Act (SF 2744 / HF 2680, effective Aug 1, 2023 per CSBS), regulating virtual-currency business activity and kiosk operators as licensees under the Department of Commerce. 2026 changes: ch. 124 (HF 4188) adjusts tangible net worth treatment of virtual currency and adds unclaimed property rules; ch. 93 (HF 3709) allows state banks and credit unions to offer nonfiduciary virtual currency custody on 60 days' notice, effective Aug 1, 2026. We did not read the full text of 53B.70-53B.74 to confirm the license trigger.
Sources: Minn. Stat. ch. 53B, Revisor (primary), Minn. Stat. 53B.69 definitions (primary), Commerce notice on 2026 virtual currency updates (primary), HF 3709 (Laws 2026 ch. 93), Revisor (primary), CSBS MTMA update (secondary)
Crypto kiosks (ATMs) Confirmed
Laws 2026, ch. 65 (SF 3868), approved May 5, 2026, prohibits installing, operating or making available virtual currency kiosks beginning Aug 1, 2026; operators must remove kiosks from public access and pay out customers by Dec 31, 2026 (with an exception if other lawful access is maintained). Commerce enforces it. This replaced earlier kiosk rules in chapter 53B (53B.69-.75 era, new/existing customer limits), part of which are repealed.
Sources: Laws 2026 ch. 65, Revisor (primary), Commerce Department notice (primary), KTTC, kiosk ban begins Aug 1 (Jul 27, 2026) - secondary, League of Minnesota Cities, Focus on New Laws - secondary
Other 2025 to 2026 actions
- 2026-05-14 (approved; effective 2026-08-01): Laws 2026 ch. 93 (HF 3709) lets Minnesota state-chartered banks and credit unions offer nonfiduciary virtual currency custody; passed House 130-4 and Senate 51-16 (amended), House concurred 119-6.
- 2026 (effective 2026-08-01): Laws 2026 ch. 124 (HF 4188) adds a virtual currency definition, presumption of abandonment and 30-day liquidation requirement before filing unclaimed property reports (ch. 345), and adjusts net worth treatment in 53B.74.
- 2026-12-31: Deadline for kiosk removal and customer payouts; kiosk-only licensees may let licenses lapse or surrender them in NMLS.
Sources: HF 3709, Revisor, Commerce notice, Commerce notice
Source notes: Kiosk ban compliance deadline falls Dec 31, 2026, after the research date; watch for litigation or Commerce guidance updates. Second repealer in ch. 65 takes effect Jan 17, 2027.
Frequently asked
Does Minnesota have a crypto or blockchain task force?
We did not find one in Minnesota (confidence: None found). A "none found" result is not proof that no body exists, because small study groups are often poorly documented online.
Does Minnesota have a bitcoin or digital asset reserve law?
Our research shows the status as failed (confidence: Reported). SF 2661 / HF 2946, the 'Minnesota Bitcoin Act' (Sen. Jeremy Miller, with Sen. Calvin Bahr; introduced March 17, 2025), would have let agencies accept crypto payments, authorized the State Board of Investment to hold crypto, and created income-tax subtractions; it is not a reserve fund as such. The Senate page shows last action March 24, 2025 (still in State and Local Government); CryptoSlate reports it expired at the 2026 adjournment. Not enacted.
Does Minnesota regulate crypto kiosks (ATMs)?
Our research shows law (confidence: Confirmed). Laws 2026, ch. 65 (SF 3868), approved May 5, 2026, prohibits installing, operating or making available virtual currency kiosks beginning Aug 1, 2026; operators must remove kiosks from public access and pay out customers by Dec 31, 2026 (with an exception if other lawful access is maintained). Commerce enforces it. This replaced earlier kiosk rules in chapter 53B (53B.69-.75 era, new/existing customer limits), part of which are repealed.
This page is part of our 50-state crypto legislation and task force tracker. Each entry is labeled Confirmed, Reported, Unclear or None found; see the tracker for how we research it.