California Protects Unclaimed Crypto
California Governor Gavin Newsom has signed legislation to protect unclaimed crypto from forced liquidation.
The new law ensures that crypto remains in its native form, rather than being converted to cash, before being transferred to state custody.
Senate Bill 822
Authored by Senator Josh Becker, Senate Bill 822 updates California's Unclaimed Property Law to include digital financial assets, such as Bitcoin and Ethereum.
- Treats digital assets with the same legal framework as abandoned bank accounts and securities
- Passed unanimously through both chambers in September
California is the first state to explicitly protect unclaimed crypto from forced liquidation.
Author's summary: California protects unclaimed crypto assets.
More News
- It Would Seem Like New Orleans Has Reached The End Of The Line. Thank God.
- Senate reconvenes after fall break
- Wizz Air reintroduces its “All You Can Fly” pass for unlimited travel!
- A deficit paid by workers and a bailout for the wealthy
- OnePlus 15 Set to Launch on November 13: Redefining Smartphone Speed, AI, and Imaging
- APPEL: No Easy Bailout For Spendthrift NOLA Government
- Comment | A spate of dealer anniversaries offers hope amid art market doomerism
- Landmark New Report Shows Canadian Lobbyists Represent Major Polluters Alongside Environmental Groups
- The Casandra Cascade: Industrialisation Of Fear - FNArena.com