California AB 1052 Targets Idle Crypto as Unclaimed Property After 3 Years
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- California may seize inactive crypto after 3 years under a new unclaimed property bill.
- Bill mandates unclaimed crypto be held in native form, not liquidated to fiat.
- New rules may push traders toward self-custody due to fears over state asset claims.
California’s State Assembly has given its approval to a new bill, Assembly Bill 1052, that could significantly change how digital assets are treated under the state’s unclaimed property laws. The bill passed with a strong 78–0 vote on June 3.
If it becomes law, AB 1052 seeks to classify idle cryptocurrency held on exchanges as unclaimed property if it’s left untouched for more than three years. Importantly, the bill would then give the state authority to take custody of these assets while keeping them in their original crypto form.
— Bitcoin Laws (@Bitcoin_Laws) June 4, 2025
JUST IN : California Assembly passes bill to regulate Digital Assets under 'Unclaimed Property' law.
The bill now moves to the Senate.
Law explained: Assets left on an exchange for 3 years will transferred to the state, and can then be claimed by the owner. pic.twitter.com/u9XftO0XRy
Related: North Carolina’s ‘Digital Asset…
The post California AB 1052 Targets Idle Crypto as Unclaimed Property After 3 Years appeared first on Coin Edition.
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