🚨 California Passes Bill to Seize Unclaimed Crypto

California’s Assembly has unanimously approved AB-1052, allowing the state to classify crypto on centralized exchanges as unclaimed property after 3 years of inactivity.

🔹 What It Means:

If you haven’t logged in, traded, or withdrawn from your exchange account for 3+ years, the state can take custody of your crypto—though it won’t be liquidated. Assets will be stored in their original crypto form via a licensed custodian.

🔹 Not Affected:

🔐 Self-custodied wallets (like hardware wallets) are excluded.

🗓️ Next Steps:

The bill moves to the California Senate. If passed, it will take effect July 1, 2026.

💬 Why It Matters:

Critics warn of state overreach, while supporters say it protects inactive user funds. Either way—interact with your exchange account at least once every 3 years to stay safe.

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