California Enacts Law to Prevent Forced Liquidation of Dormant Cryptocurrencies

On the 13th, California Governor Gavin Newsom signed a bill that prevents the automatic liquidation of dormant cryptocurrencies, as reported by The Block. The state legislative bill 'AB 1052' amends the state's unclaimed property law and includes cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The bill mandates that cryptocurrencies, which have been inactive on platforms such as exchanges for three years and have not been claimed by their owners, be transferred to the state government without being forcibly liquidated or converted into cash. This measure prevents the automatic liquidation of these assets, allowing...