Over the weekend, California Governor Gavin Newsom signed a bill into law that preserves abandoned Bitcoin (BTC) holdings — a step forward that could provide legal clarity for custodians and crypto holders.
The bill was an update to unclaimed property law (UPL) and contained one key provision: Abandoned Bitcoin or crypto holdings that are transferred to the state must be maintained in their original format (not sold for cash) for a certain amount of time.
States with similar laws require…
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