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The U.S. state of Virginia will hold dormant cryptocurrency in physical form for at least one year

6 days ago

Virginia Governor Abigail Spanberger signed House Bill 798 into law Monday (April 15), with the measure set to take effect July 1, 2026. The law requires unclaimed cryptocurrency in customer accounts — defined as assets unclaimed for five years — to be transferred to state custody in their "physical form" (actual tokens), rather than immediately liquidated or converted to cash. Previously, state officials typically liquidated unclaimed crypto shortly after taking custody, meaning owners who later claimed their assets might receive cash based on an earlier (and potentially lower) market price. Under the new law, state managers must hold these unclaimed digital assets for at least one year before liquidation. (Source: The Block)
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