California Approves Bill on Unclaimed Cryptocurrency and Crypto Payments.
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The state Assembly unanimously passed AB 1052, which introduces new regulations for crypto currencies:
🪷✧ If the owner is inactive for 3 years (does not trade, does not log into the account, does not withdraw funds) - the crypto is considered "unclaimed" and is transferred to the state.
🪷✧ Important: assets are not sold - they are stored as BTC and transferred to a licensed custodian.
🪷✧ The law does not apply to those who store cryptocurrency in their own wallets (self-custody).
🪷✧ Crypto payments for goods, services and in private transactions are also allowed.
🪷✧ As of July 1, 2026, all participants in the digital asset business are required to obtain a license from the state regulator.
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