California governor signs legislation protecting unclaimed cryptocurrencies from forced liquidation

California’s SB 822 updates the Unclaimed Property Law to protect cryptocurrencies, treating them like traditional bank accounts. This prevents forced liquidation, allowing users to retain their assets in original form.

With the new law, account holders can reclaim their digital assets or proceeds after submitting a claim. The law enhances consumer protections and mandates that digital assets must remain intact for transfers to the state.