US EditionCalifornia Move To Takeover Crypto Left Unclaimed In Exchanges Spurs Debate: Golden State Robbing Citizens Or Just Following Precedents?
- On June 4, 2025, California legislators approved a bill permitting the state to assume ownership of cryptocurrency assets left dormant in trading platforms if the owner does not claim them within a three-year period, in accordance with the state's unclaimed property regulations.
- This legislation follows growing interest in crypto regulation and adoption, with California aiming to integrate cryptocurrencies like Bitcoin and Ethereum into government payment systems.
- AB 1180 was approved unanimously in the Assembly with a 68-0 vote and is now set for Senate review; the state's financial regulatory agency will be responsible for establishing rules and monitoring cryptocurrency transactions conducted by state government entities.
- An expert noted seizing crypto would be complex legally and logistically, while California pledged to keep any recovered Bitcoin in crypto form, not liquidate it to cash.
- The bill may set a precedent for other states and advance California as a blockchain-forward economy while sparking debate in the crypto community over property rights and regulatory reach.
31 Articles
31 Articles
California Move To Takeover Crypto Left Unclaimed In Exchanges Spurs Debate: Golden State Robbing Citizens Or Just Following Precedents?
California lawmakers passed a bill Wednesday allowing the authorities to take control of cryptocurrency from exchanges after three years of inactivity under the Unclaimed Property Law.
'Legalized Theft': California Passes Bill to Seize Bitcoin Left on Exchanges For 3 Years
California has advanced a controversial bill that would allow the state to seize bitcoin and other cryptocurrencies left idle on exchanges for three years—a move critics are calling nothing short of legalized theft. Passed by the State [...] The post ‘Legalized Theft’: California Passes Bill to Seize Bitcoin Left on Exchanges For 3 Years appeared first on The People's Voice.
California Passes Bill That Would Let State SEIZE Your Bitcoin * 100PercentFedUp.com * by Kaley
California has just come up with a novel new way to steal from its citizens. On Tuesday, the California State Assembly unanimously passed a bill that would let the state seize unclaimed cryptocurrency from exchanges after a period of three years of inactivity. Basically, if you don’t interact with your Bitcoin or login to your exchange account for three years, the bill would allow the California government to take it. It’s now headed to the Sena…
California Passes Bill That Would Let State SEIZE Your Bitcoin
California has just come up with a novel new way to steal from its citizens. On Tuesday, the California State Assembly unanimously passed a bill that would let the state seize unclaimed cryptocurrency from exchanges after a period of three years of inactivity. Basically, if you don’t interact with your Bitcoin or login to your exchange account for three years, the bill would allow the California government to take it. It’s now headed to the Sena…
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