California to Include Crypto Under Unclaimed Property Law

The California Assembly just passed a bill that will allow the state to transfer crypto left on an exchange for three years as part of its Unclaimed Property Law. Despite the provocative name, this bill may actually prove beneficial for California’s crypto owners. Similar laws govern many categories of assets, and this bill would put crypto in line with standard practices. Could California Seize Unclaimed Bitcoin? California hasn’t always been the friendliest state for crypto regulations, but it’s been making good progress recently source: https://beincrypto.com/california-unclaimed-property-crypto-exchanges/