{ "jurisdiction_id": "US-MN", "jurisdiction": "United States – Minnesota", "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 12, "source_register": 10 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#crypto-licensing-crypto-licensing", "standing_position": "Minnesota has no bespoke crypto-asset licensing statute distinct from its general money-transmitter law. Crypto exchange/custody businesses fall under Minn. Stat. ch. 53B (money transmitters), administered by the Minnesota Department of Commerce and processed via NMLS. The regulatory landscape shifted materially in 2026: the state's 2024 kiosk registration/disclosure regime was displaced by a statutory ban on virtual-currency kiosks (SF 3868), and a new notification-based pathway (HF 3709) now lets state-chartered banks and credit unions offer crypto custody services, both effective August 1, 2026.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "token_classification", "name": "Token Classification", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#token-classification-token-classification", "standing_position": "Minnesota has not enacted a state-specific crypto-asset taxonomy. Token characterization for securities-law purposes is governed by federal SEC/CFTC jurisdiction, consistent with the seed's disambiguation note that state MTL licensing addresses money-transmission/custody, not securities status.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "No Minnesota-specific statute or regulation addressing staking, DeFi lending, DEX operation, mining, node operation, validating, or tokenization was identified. Such activities are only indirectly implicated to the extent they involve custodial money transmission under Chapter 53B.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#stablecoin-regime-stablecoin-regime", "standing_position": "Minnesota has not established a state-level stablecoin issuance, reserve, or redemption regime. The new bank/credit-union custody law (HF 3709) permits Minnesota-chartered institutions to custody digital assets, which may include stablecoins, but does not itself authorize stablecoin issuance or impose reserve/redemption rules; those remain federally governed.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#consumer-protection-consumer-protection", "standing_position": "Minnesota consumer protection activity around crypto has intensified in 2026: the new bank/credit-union custody law mandates segregation of customer digital-asset holdings, while the state's now-superseded 2024 kiosk law had required fraud/risk disclosures. The Department of Commerce has been an active complaint-intake body, citing 70 kiosk-related complaints totaling $540,000 in reported losses in the year preceding the kiosk ban, and participates in federal-state crypto-scam awareness campaigns.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#tax-treatment-tax-treatment", "standing_position": "No Minnesota-specific statute or Department of Revenue guidance on crypto-asset taxation was identified in this pass. Minnesota individual income tax generally conforms its base to federal adjusted gross income, which would carry through the federal property-based treatment of virtual currency (IRS Notice 2014-21) absent a state-specific carve-out, but this conformity linkage was not independently verified against a primary Minnesota Department of Revenue source in this run.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#cross-border-transfer-cross-border-transfer", "standing_position": "No Minnesota-specific cross-border virtual-currency transfer restriction, reporting threshold, or travel-rule provision was identified. Cross-border crypto transmission by Minnesota-licensed money transmitters is governed by federal FinCEN Travel Rule and OFAC sanctions regimes rather than state law.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-minnesota/#aml-cft-regime-aml-cft-regime", "standing_position": "This crypto consumer subscribes to the FIM aml_ctf module; AML/CFT claims are not independently produced in this baseline. For disambiguation context only: Minnesota MSB/money-transmitter licensees are also subject to federal FinCEN BSA registration, recordkeeping, and SAR obligations, and FinCEN has separately issued guidance (FIN-2025-NTC1) flagging convertible-virtual-currency kiosks as an illicit-finance risk vector relevant to Minnesota's kiosk ban.", "findings": [] } ] }