The California State Legislature Unanimously Passes 'Unclaimed Digital Assets State Custody Bill'
Suehyeon Lee
Summary
- It was reported that the California State Legislature unanimously passed a bill (AB 1052) to transfer and hold long-term unclaimed digital assets under state government custody.
- According to the bill, assets that have been left on digital asset platforms such as cryptocurrency exchanges for more than three years will be transferred to the state government.
- It was reported that original owners can then claim and retrieve their digital assets from the state government.
The California State Legislature has passed a bill (AB 1052) to transfer and hold long-term unclaimed digital assets (cryptocurrencies) under the custody of the state government.
According to Bitcoin Laws, on the 5th (local time), the California State Legislature unanimously passed the bill to transfer and hold long-term unclaimed digital assets under state government custody, and the bill now faces review in the Senate.
If the bill is finally passed, assets that have been left unattended on digital asset platforms such as cryptocurrency exchanges for more than three years will be transferred to the state government, after which the original owners will be able to claim and retrieve them.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
