California passes a bill: Encryption assets idled for three years will be held by the state government for claim.

StablecoinSteward · 2025-06-05T01:25:52+00:00

California lawmakers passed a bill requiring the confiscation of unclaimed encryption assets after three years of inactivity in customer accounts. Despite controversy, supporters claim that these assets will be held by third-party accomplices to ensure that investors' tokens are not sold at a low price.

StablecoinSteward

2025-06-05 01:25:52

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On June 5th, California lawmakers passed a bill in the House on Tuesday that requires the state government to confiscate unclaimed Crypto Assets from the trading platform after three consecutive years of inactivity in customer accounts, unless there is a “demonstration of interest in their assets.”

Despite the controversy the bill has sparked among crypto investors and widespread opposition on social media, there may be no need for excessive concern. Supporters of the bill state that the state government will not liquidate unclaimed Bitcoin or other digital assets, but rather they will be held by third-party custodians for clients to claim later—this means that investors’ tokens will not be sold at a low price without consent.

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