Maryland Cryptocurrency Regulations
Overview
Maryland regulates cryptocurrency activities through its Office of the Commissioner of Financial Regulation, maintaining a balanced approach between innovation and consumer protection. The state provides clear guidelines for virtual currency businesses while supporting financial technology development. The state's regulatory framework emphasizes consumer protection while fostering an environment conducive to blockchain and cryptocurrency innovation.
Key Features
- •Clear regulatory framework
- •Consumer protection focus
- •Innovation support
- •Structured oversight approach
- •Developing blockchain initiatives
Compliance Requirements
- •Money Transmitter License requirement
- •Virtual currency business registration
- •Consumer protection compliance
- •Cybersecurity program implementation
- •Regular financial examinations