🧾 California has approved a bill on unclaimed crypto and crypto payments

The state Assembly unanimously passed AB 1052, which introduces new rules for cryptocurrencies:

✧ If the owner is inactive for 3 years (not trading, not logging into the account, not withdrawing funds) — the crypto is considered "unclaimed" and is transferred to the state.

✧ Important: assets are not sold — they are held in the form of 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.

✧ From July 1, 2026, all participants in the business with digital assets must obtain a license from the state regulator.