California Protects Unclaimed Crypto
California Governor Gavin Newsom has signed legislation to protect unclaimed crypto from forced liquidation.
The legislation, 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
- Ensures crypto remains in its native form rather than being converted to cash before transfer to state custody
California is the first state to explicitly protect unclaimed crypto from forced liquidation
Author: Senator Josh Becker (D-Menlo Park), signed by Governor Gavin Newsom.
Summary: California protects unclaimed crypto assets.