California Law Preserves Abandoned Bitcoin

[nihalsari]

California Governor Gavin Newsom signed SB 822, updating unclaimed property law to ensure abandoned crypto stays in its original form rather than being liquidated immediately. Custodial platforms must turn over assets to a state-appointed custodian, and crypto can only be sold after 18 months if deemed necessary. The law applies to accounts inactive for three years, giving investors the ability to reclaim their Bitcoin or other crypto in full.

[alex10]

Interesting approach — reclaiming lost Bitcoin through legal preservation is a unique policy idea.

[Nahid10]

This move could inspire other regions to design frameworks for protecting dormant crypto assets.