California Introduces Rules for 'Dormant' Crypto: Bill AB 1052 Passed Unanimously

📜 The California State Assembly has approved Bill AB 1052, which regulates unclaimed cryptocurrency assets and the licensing of crypto businesses. Here are the key points:

💤 If a owner is inactive for 3 years (does not trade, does not log into their account, does not withdraw funds),

their crypto is considered unclaimed and transferred to the state's custody.

🔐 Important:

— Crypto will not be sold, but transferred to a licensed custodian in BTC;

— The law does not apply to self-custody — those who hold assets in cold wallets are safe.

💵 Also permitted:

— Crypto payments for goods and services;

— Private transactions with digital assets.

📅 From July 1, 2026, all crypto businesses in the state will be required to obtain a regulator's license.

📌 This is the first major step by the state towards regulating crypto at the consumer level.

For users of centralized platforms — a signal: keep your assets active or secure.