California Assembly Passes AB-1052 Bill, Proposing to Include Long-Inactive Crypto Assets in "Unclaimed Property" Category, Authorizing State Government to Take Custody and Retain These Assets. The Bill Requires Users to Have Account Activity Once Every Three Years, Otherwise Assets Will Be Temporarily Taken Over. The Bill Does Not Require Liquidation of These Assets, But Rather Allows the Custodian to Hold Them, with Assets Remaining in Cryptocurrency Form, and Users Can Still Apply for Redemption in the Future. The Bill Has Now Been Submitted to the Senate for Review. (Decrypt)
California plans to take over long-term unused crypto assets
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