List of Flash News about California unclaimed property crypto law
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2026-01-08 04:28 |
California Unclaimed Property Law: Inactive CEX Crypto Transferred to State After 3 Years — Custody Risks for BTC, ETH Traders
According to @1HowardWu, California Governor Gavin Newsom signed a bill enabling the state to take custody of Bitcoin and other cryptocurrencies held on centralized exchanges after three years of inactivity by treating such assets as unclaimed property; source: https://twitter.com/1HowardWu/status/2009119971134329243 https://x.com/BitcoinJunkies/status/2008389195039936872. For traders, this introduces a concrete custody risk for California-resident centralized exchange accounts holding BTC, ETH, and other assets if inactive for three years, making exchange-account activity status a material operational factor for portfolio security; source: https://twitter.com/1HowardWu/status/2009119971134329243. The post underscores the principle not your keys, not your crypto, highlighting self-custody considerations for market participants assessing exchange risk; source: https://twitter.com/1HowardWu/status/2009119971134329243. |