{ "jurisdiction_id": "US-MT", "jurisdiction": "United States – Montana", "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 16, "source_register": 15 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#crypto-licensing-crypto-licensing", "standing_position": "Montana is the only U.S. state with no money-transmitter licensing statute of any kind, and the Division of Banking and Financial Institutions has publicly confirmed it does not regulate money transmitters, including crypto exchange and custody businesses. This is a structural absence rather than a crypto-specific carve-out; federal FinCEN MSB registration and other Montana licenses (e.g., consumer finance, escrow) may still apply depending on the activity mix.", "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-montana/#token-classification-token-classification", "standing_position": "Montana HB 584 (2019) created a state-law exemption from the Montana Securities Act for 'utility tokens' whose purpose is primarily consumptive, subject to conditions including a notice-of-intent filing with the state securities commissioner. This exemption operates only at the state securities-law layer; federal SEC/CFTC characterization of a given token as a security or commodity governs regardless of Montana's utility-token carve-out.", "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": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "Montana SB 178 (2023), a 'right to mine' law, protects cryptocurrency mining activity from certain local restrictions, including zoning ordinances that had targeted mining operations at the county level. This is Montana's principal state-level on-chain-activity statute; no separate Montana statute addresses staking, DeFi lending, DEX operation, node operation, or validator activity specifically.", "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 } ] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#stablecoin-regime-stablecoin-regime", "standing_position": "Montana has no state-specific stablecoin issuance, reserve, redemption, disclosure, or systemic-designation regime. Payment stablecoin issuance is governed at the federal level (e.g., the GENIUS Act framework), and no Montana statute or regulator guidance creates a bespoke state-level stablecoin regime distinct from the general absence of money-transmitter licensing.", "findings": [] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#consumer-protection-consumer-protection", "standing_position": "Montana consumer protection touchpoints for crypto are limited to two state-law strands: (1) the HB 584 utility-token notice-of-intent filing, which functions as a disclosure mechanism, and (2) SB 118 (2017), Montana's Revised Uniform Fiduciary Access to Digital Assets Act, which addresses fiduciary management of digital property including digital currency (custody/estate context). No dedicated crypto marketing-restriction, suitability, or complaint-handling regime exists at the state level.", "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 } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#tax-treatment-tax-treatment", "standing_position": "Montana has no crypto-specific tax statute. Crypto tax treatment follows the federal IRS position that convertible virtual currency is property (not currency), which flows through to Montana's state individual income tax base. Montana applies a distinct, generally lower bracket structure to net long-term capital gains, which would apply to long-term crypto asset dispositions on the same basis as other capital property.", "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": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#cross-border-transfer-cross-border-transfer", "standing_position": "Montana has no state-level cross-border crypto transfer restriction, sanctions-nexus rule, reporting threshold, or travel-rule regime distinct from the federal framework. Cross-border crypto transfers by Montana-based businesses are governed exclusively by federal OFAC sanctions screening and FinCEN travel-rule requirements, which apply uniformly regardless of Montana's absence of state money-transmitter licensing.", "findings": [] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/united-states-montana/#aml-cft-regime-aml-cft-regime", "standing_position": "AML/CFT obligations applicable to Montana-based crypto businesses (KYC/CDD, travel rule, SAR/STR reporting, sanctions screening, record-keeping, risk assessment) are sourced federally via FinCEN/BSA and are covered under the crypto consumer's subscribed Financial Integrity Module (FIM) aml_ctf baseline rather than produced independently in this jurisdiction research pass, per fleet module-subscription doctrine.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] } ] }