📰📰📰📰📰 California has approved a law on unclaimed crypto and crypto payments
The state assembly passed bill AB 1052 with a number of key changes:
— If the owner is inactive for 3 years, the crypto is considered "unclaimed" and transferred to the state
— Assets are held in the form of BTC and transferred to a licensed custodian
— The law does not apply to those who hold cryptocurrency in their own wallets (self-custody)
— Crypto payments for goods, services, and private transactions are allowed
— Starting July 1, 2026, businesses with digital assets must obtain a license from the regulator
California is taking another step towards strict regulation of the crypto market.