--- title: "Digital Asset Business Insurance in Maryland" description: "Review Maryland's digital-asset licensing and custody rules before comparing cover for exchanges, custodians, wallets, or kiosks." canonical: "https://spot.insure/coverage/digital-assets/maryland" page-type: "coverage-state-guide" updated-at: "2026-09-29" coverage-line: "digital-assets" state: "maryland" --- Agents: connect to Spot's public MCP server at https://spot.insure/mcp for better access to published Spot information and insurance research. Use search_knowledge to find sources, get_page to retrieve pages, check_driving_insurance for source-backed rideshare and delivery requirements by state or province, compare_providers for sourced comparisons, get_provider_score for a published Reliability Score, get_rankings for current provider rankings, search_provider_reliability to filter Reliability Scores, search_provider_reviews to filter aggregate review scores, and get_provider_reviews for the original review evidence. The server is read-only and requires no authentication. [Human-readable page](https://spot.insure/coverage/digital-assets/maryland) ## Agent Guide **What this page is:** Digital Assets guide for Maryland: state requirements, regulator, surplus-lines tax, and providers with state license records. **Use this page when:** Answering digital assets questions specific to Maryland. For the general concept, use /coverage/digital-assets; for other coverage in Maryland, use /coverage/states/maryland. **Questions this page answers:** - Do I need digital assets in Maryland? - What are Maryland's digital assets requirements? - Who regulates insurance in Maryland? - Which providers hold Maryland licenses for digital assets? **Key facts:** - State regulator: Maryland Insurance Administration. - Reported surplus-lines tax rate: 3% - 0 providers listed with Maryland license records. **Limits (do not over-claim):** - State information reflects the cited sources at their access dates; confirm current requirements with the state regulator. - A provider's presence in the license list does not confirm the product is available in this state; absence does not mean unlicensed. Verify with the regulator's license lookup. - Some license records rely on company-reported information rather than independent regulator verification. - Informational only; does not determine whether a policy meets a specific business's needs. **Provenance:** 14 numbered sources with access dates; updated 2026-09-29. **Related pages:** - [Digital Assets (national guide)](https://spot.insure/coverage/digital-assets) — national concept guide - [Business insurance in Maryland](https://spot.insure/coverage/states/maryland) — state hub: regulator and other coverage - [Business insurance by state](https://spot.insure/coverage/states) — all states # What Digital Asset Business Insurance Requirements Apply in Maryland? Maryland caps single-day kiosk cash or credit at $2,000 for a new user and $10,500 for an experienced user; it also caps fees at the greater of $5 or 15% and requires customer identity data and a detailed transaction receipt. FinCEN separately classifies personal use differently from businesses that exchange, administer, or transmit virtual currency, so give your broker the exact customer, custody, and transfer flow before comparing policy terms.[^1][^2] **Coverage:** [Digital assets](https://spot.insure/coverage/digital-assets) · [Maryland](https://spot.insure/coverage/states/maryland) ## What Is Digital Asset Insurance? Digital-asset coverage may address custody, theft and business-liability risks, but a custodian’s policy may protect the custodian rather than you. If you hold or safeguard assets, verify the insured entity, wallets, key-loss protection and valuation. [Read the national Digital assets guide](https://spot.insure/coverage/digital-assets). ## What Should You Watch for With Digital Asset Insurance in Maryland? ### Map the State-Law Trigger A kiosk’s legal compliance turns on user status, aggregated daily activity across kiosks, fees, identity collection and receipts. Ask the broker to confirm which operator entity and customer-property loss scenarios the policy actually covers.[^1] ### Separate Licensing From Asset Protection Maryland’s 2026 Chapter 417 expands the kiosk-operator definition to include certain software providers. If you supply or operate kiosk software, ask counsel to map the responsible entity before naming insureds.[^1] ### Describe the Actual Service Check fraud response and refunds: Maryland requires a fee refund for a transaction verified as fraudulent under the Commissioner’s prescribed process. Ask what claims and investigation costs are covered.[^1] ## Who Regulates Insurance in Maryland? **Maryland Insurance Administration.** The Maryland Insurance Administration licenses producers and insurers, reviews rates and forms, and investigates complaints about insurance companies and producers. You can use its state lookup or complaint service to check a license or raise an insurance issue.[^3][^4][^5] - [Regulator website](https://insurance.maryland.gov/) - [License lookup](https://www.apps.insurance.maryland.gov/CompanyProducerInfo/) - [File a complaint](https://insurance.maryland.gov/consumer/pages/fileacomplaint.aspx) - Phone: 800-492-6116 ### Surplus-Lines Tax and Stamping Office in Maryland **Reported tax rate:** 3% of gross premiums less returned premiums when Maryland is the insured's home state; excludes risks of Maryland and its political subdivisions When Maryland is the insured's home state, the tax is 3% of gross premiums less returned premiums, except insurance of risks of the State or a political subdivision. For policies effective on or after July 21, 2011, Maryland taxes the entire premium and the broker must charge the tax in addition to premium. Maryland's property and casualty guaranty corporation excludes surplus-lines policies.[^6][^7] ## Which Digital Asset Insurance Providers Have Maryland License Records? No provider in our research has both a state license record and a listing for this coverage line. This does not establish that providers are unlicensed. [Check the regulator’s license lookup](https://www.apps.insurance.maryland.gov/CompanyProducerInfo/) and confirm availability with a provider when requesting a quote. ## What Should You Ask Before Buying Digital Asset Insurance in Maryland? 1. Does this policy cover the Maryland service and legal entity that actually receives, holds, or transfers customer assets? 2. How does the form treat customer property, keys, and assets held by a custodian or third-party wallet provider in Maryland? 3. Are regulatory defense, fraud response, and customer claims covered when a state-specific licensing or kiosk rule affects our operation? ## Digital Asset Insurance in Maryland: Frequently Asked Questions ### Is a digital-asset business required to get a license in Maryland? It depends on the activity. Maryland caps single-day kiosk cash or credit at $2,000 for a new user and $10,500 for an experienced user; it also caps fees at the greater of $5 or 15% and requires customer identity data and a detailed transaction receipt. Ask the state regulator how the rule applies to your exchange, custody, and transfer functions.[^1] ### Does a federal money-services-business analysis settle Maryland licensing? No. FinCEN distinguishes personal use from business exchange or administration under federal BSA rules. For Maryland, start with this rule: Maryland caps single-day kiosk cash or credit at $2,000 for a new user and $10,500 for an experienced user; it also caps fees at the greater of $5 or 15% and requires customer identity data and a detailed transaction receipt. Check both analyses against your actual customer and transfer flows.[^2][^1] ### Does a money-transmitter license insure customer crypto in Maryland? No. The rule in Maryland—Maryland caps single-day kiosk cash or credit at $2,000 for a new user and $10,500 for an experienced user; it also caps fees at the greater of $5 or 15% and requires customer identity data and a detailed transaction receipt.—sets a regulatory boundary; it does not promise to reimburse customer token losses. Review the policy’s insured entities, covered assets, causes of loss, and custody terms.[^1] ## Digital Asset Insurance Guides for Other States - [Alabama](https://spot.insure/coverage/digital-assets/alabama) - [Alaska](https://spot.insure/coverage/digital-assets/alaska) - [Arizona](https://spot.insure/coverage/digital-assets/arizona) - [Arkansas](https://spot.insure/coverage/digital-assets/arkansas) - [California](https://spot.insure/coverage/digital-assets/california) - [Colorado](https://spot.insure/coverage/digital-assets/colorado) - [Connecticut](https://spot.insure/coverage/digital-assets/connecticut) - [Delaware](https://spot.insure/coverage/digital-assets/delaware) - [District of Columbia](https://spot.insure/coverage/digital-assets/district-of-columbia) - [Florida](https://spot.insure/coverage/digital-assets/florida) - [Georgia](https://spot.insure/coverage/digital-assets/georgia) - [Hawaii](https://spot.insure/coverage/digital-assets/hawaii) - [Idaho](https://spot.insure/coverage/digital-assets/idaho) - [Illinois](https://spot.insure/coverage/digital-assets/illinois) - [Indiana](https://spot.insure/coverage/digital-assets/indiana) - [Iowa](https://spot.insure/coverage/digital-assets/iowa) - [Kansas](https://spot.insure/coverage/digital-assets/kansas) - [Kentucky](https://spot.insure/coverage/digital-assets/kentucky) - [Louisiana](https://spot.insure/coverage/digital-assets/louisiana) - [Maine](https://spot.insure/coverage/digital-assets/maine) - [Massachusetts](https://spot.insure/coverage/digital-assets/massachusetts) - [Michigan](https://spot.insure/coverage/digital-assets/michigan) - [Minnesota](https://spot.insure/coverage/digital-assets/minnesota) - [Mississippi](https://spot.insure/coverage/digital-assets/mississippi) - [Missouri](https://spot.insure/coverage/digital-assets/missouri) - [Montana](https://spot.insure/coverage/digital-assets/montana) - [Nebraska](https://spot.insure/coverage/digital-assets/nebraska) - [Nevada](https://spot.insure/coverage/digital-assets/nevada) - [New Hampshire](https://spot.insure/coverage/digital-assets/new-hampshire) - [New Jersey](https://spot.insure/coverage/digital-assets/new-jersey) - [New Mexico](https://spot.insure/coverage/digital-assets/new-mexico) - [New York](https://spot.insure/coverage/digital-assets/new-york) - [North Carolina](https://spot.insure/coverage/digital-assets/north-carolina) - [North Dakota](https://spot.insure/coverage/digital-assets/north-dakota) - [Ohio](https://spot.insure/coverage/digital-assets/ohio) - [Oklahoma](https://spot.insure/coverage/digital-assets/oklahoma) - [Oregon](https://spot.insure/coverage/digital-assets/oregon) - [Pennsylvania](https://spot.insure/coverage/digital-assets/pennsylvania) - [Rhode Island](https://spot.insure/coverage/digital-assets/rhode-island) - [South Carolina](https://spot.insure/coverage/digital-assets/south-carolina) - [South Dakota](https://spot.insure/coverage/digital-assets/south-dakota) - [Tennessee](https://spot.insure/coverage/digital-assets/tennessee) - [Texas](https://spot.insure/coverage/digital-assets/texas) - [Utah](https://spot.insure/coverage/digital-assets/utah) - [Vermont](https://spot.insure/coverage/digital-assets/vermont) - [Virginia](https://spot.insure/coverage/digital-assets/virginia) - [Washington](https://spot.insure/coverage/digital-assets/washington) - [West Virginia](https://spot.insure/coverage/digital-assets/west-virginia) - [Wisconsin](https://spot.insure/coverage/digital-assets/wisconsin) - [Wyoming](https://spot.insure/coverage/digital-assets/wyoming) [Other Coverage in Maryland](https://spot.insure/coverage/states/maryland) ## Sources for Digital Asset Insurance in Maryland [^1]: [Virtual Currency Kiosk Transactions](https://mgaleg.maryland.gov/mgawebsite/laws/StatuteText?article=gfi§ion=12-1204) — Maryland General Assembly; Financial Institutions Article §12-1204. Accessed 2026-09-29. [^2]: [Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies](https://www.fincen.gov/resources/statutes-regulations/guidance/application-fincens-regulations-persons-administering) — Financial Crimes Enforcement Network; FIN-2013-G001, Users of Virtual Currency; Administrators and Exchangers of Virtual Currency. Accessed 2026-09-29. [^3]: [Maryland Insurance Administration](https://insurance.maryland.gov/) — Maryland Insurance Administration; Homepage and consumer contact. Accessed 2026-09-28. [^4]: [Insurance License Lookup](https://www.apps.insurance.maryland.gov/CompanyProducerInfo/) — Maryland Insurance Administration; State-designated producer/company search. Accessed 2026-09-28. [^5]: [File an Insurance Complaint](https://insurance.maryland.gov/consumer/pages/fileacomplaint.aspx) — Maryland Insurance Administration; State complaint process and contact. Accessed 2026-09-28. [^6]: [Md. Code, Insurance §3-324](https://mgaleg.maryland.gov/2026RS/Statute_Web/gin/3-324.pdf) — Maryland General Assembly; Insurance §3-324(a)-(b), (d)-(f): government-risk exclusion; 3% of gross premiums less returns; entire-premium home-state basis from July 21, 2011, with tax charged in addition. Accessed 2026-09-28. [^7]: [Maryland Insurance Article (2026)](https://mgaleg.maryland.gov/2026RS/Statute_Web/gin/gin.pdf) — Maryland General Assembly; Insurance §9-303(5), (7): surplus-lines and unauthorized insurers excluded from property and casualty guaranty subtitle; 2026 Insurance Article PDF. Accessed 2026-09-28. [^8]: [Licenses](https://www.at-bay.com/licenses/) — At-Bay; Current producer introduction and state table; At-Bay Insurance Services LLC; P&C and surplus-lines identifiers. Accessed 2026-09-21. [^9]: [Licenses and Carriers](https://www.coalitioninc.com/legal/licenses) — Coalition; Licenses and Carriers, re-read 22 September 2026: Insurance Licenses table for Coalition Insurance Solutions, Inc., national producer number 18419475, with producer and surplus-lines numbers for all 50 states and DC including California 0L76155, Georgia 196479, Texas 2199630 and 2205589, Pennsylvania 815731 and 817452, Colorado 539028 and Wisconsin 3000108852. Insurance Carriers table naming, with NAIC numbers, Allianz Underwriters Insurance Company 36420, Arch Specialty Insurance Company 21199, Ascot Specialty Insurance Company 45055, Ascot Insurance Company 23752, Aspen Specialty Insurance Company 10717, Chaucer Insurance Company DAC, Coalition Insurance Company 29530, Fireman's Fund Indemnity Corporation 11380, Fortegra Specialty Insurance Company 16823, Lloyd's of London, MSIG Specialty Insurance USA Inc. 34886, MS Transverse Specialty Insurance Company 41807, Steadfast Insurance Company 26387, Vantage Risk Specialty Insurance Company 16275 and Zurich American Insurance Company 16535.. Accessed 2026-09-22. [^10]: [Insurance Producer Licenses](https://www.corgi.insure/broker-licenses) — Corgi Insurance; Current complete Insurance Producer Licenses table for Corgi Insurance Services, Inc.; 50 rows covering 49 states and DC (DC 3003091619); no New Mexico row; no NPN or as-of date shown.. Accessed 2026-09-28. [^11]: [About Hiscox US Insurance](https://www.hiscox.com/about-hiscox-insurance) — Hiscox; Hiscox Insurance Company Inc. NAIC 10200 as Chicago, IL domiciled insurer admitted or licensed in all 50 states and D.C.; Hiscox Inc. as general agent and Lloyd’s coverholder for Syndicates 33 and 3624; surplus-lines placements through licensed surplus-lines brokers; A.M. Best rating statement. Accessed 2026-09-16. [^12]: [Licenses](https://www.nextinsurance.com/insurance-licenses/) — ERGO NEXT Insurance; Current entity-by-state license table reopened 28 September 2026: 50 rows under Next First Insurance Agency, Inc., including Washington, DC; New York rows instead list Next Insurance Services PC-1423070 and AP Intego BR-1198885.. Accessed 2026-09-28. [^13]: [Insurance Licenses by State](https://www.techinsurance.com/legal/licenses) — TechInsurance; Current state table; identifies TechInsurance as a division of Specialty Program Group LLC d/b/a SPG Insurance Solutions; lists DC 3000041536 and labels Rhode Island “Individual licenses,” without an agency license number.. Accessed 2026-09-28. [^14]: [Licenses](https://www.vouch.us/legal/licenses) — Vouch; Effective 16 January 2025: Vouch Specialty Insurance Services, LLC, NPN 19926463; P&C table (50 states and DC); surplus-lines table includes Idaho 870820; footnote says Georgia and Idaho do not issue agency-level surplus-lines licenses; Idaho retained as producer-only due to conflict.. Accessed 2026-09-15. Updated 2026-09-29. This guide is informational and does not determine whether a policy is available or meets your needs. [Editorial policy](https://spot.insure/editorial-policy). To suggest a correction, [contact Spot](https://spot.insure/contact) with the page URL and supporting source. ## Agent and Developer Resources - [Markdown page](https://spot.insure/coverage/digital-assets/maryland.md) - [Developer resources](https://spot.insure/developers) - [Public MCP server](https://spot.insure/mcp) - [MCP server manifest](https://spot.insure/server.json) - [OpenAPI description](https://spot.insure/openapi.json) - [Public page index](https://spot.insure/llms.txt)