The California State Assembly has approved Assembly Bill (AB) 1052, a bill that would allow the state to take custody of bitcoin (BTC) and other cryptocurrencies left idle on centralized exchanges for three years or more.
The proposal, which now heads to the state Senate, seeks to expand California’s “Unclaimed Property” law to cover digital assets. It already covers traditional assets such as bank accounts and safe deposits within the current legal framework.
Under the proposal, any crypto deemed ‘abandoned’ could be claimed by the state as unclaimed property, similar to forgotten bank accounts or uncashed checks. For crypto holders, this raises serious questions about asset security, exchange policies, and how to protect long-term holdings.
‘Acts of Ownership’ required on exchanges
Under the proposed law, activities like logging into accounts, making transactions, or conducting deposits and withdrawals are considered “acts of ownership.”
If a user fai
We współpracy z: https://en.cryptonomist.ch/2025/06/10/california-to-seize-forgotten-bitcoin-on-exchanges/
