The California Assembly has passed a new law to protect unclaimed Bitcoin by requiring licensed custodians to manage dormant crypto assets. This legislation classifies digital assets as intangible property, thus enhancing investor protection and outlining a clear regulatory framework.
Investors are now compelled to actively monitor their Bitcoin holdings, as inactivity could lead to abandonment. Unlike other states, California does not liquidate dormant assets, creating a favorable environment for long-term investors to maintain their crypto without state interference.
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