CoinStats - California Crypto Bill Rockets Forward, Promi...

CoinStats - California Crypto Bill Rockets Forward, Promi...

California crypto bill AB 1052 has secured Assembly approval, proposing that dormant custodial assets stay in native form with a state-licensed custodian after three years of inactivity. Self-hosted wallets are excluded, and any user activity resets the countdown as the bill advances to the Senate.

California's AB 1052 Bill: State to Safeguard Dormant Crypto Assets for Owners

California AB 1052: A New Framework for Unclaimed Crypto California’s Assembly Bill 1052 (AB 1052) is a groundbreaking piece of legislation that could change the way dormant cryptocurrencies are handled in the state. Under the bill, digital assets left dormant for three years will be considered unclaimed and will fall under the state’s custody. However, unlike traditional assets, cryptocurrencies will be held in their original form rather than c…

Here's why California House's approved bill that 'seizes' dormant crypto is sparking debate

California lawmakers recently passed a bill that would allow the state to ‘seize’ cryptocurrency in traders’ exchange accounts that have remained idle for three years. The new law has sparked debate among worried traders. On June 4, the California House…