Virginia, USA, will custody dormant cryptocurrencies in physical form for at least one year

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Mars Finance News, on April 15, the governor of Virginia, Abigail Spamburg, signed House Bill No. 798 into law on Monday. The bill will take effect on July 1, 2026, and stipulates that unclaimed cryptocurrency assets in customer accounts (i.e., unclaimed assets within five years) will be transferred to the state custody in physical form, meaning the actual tokens will be transferred in their original form rather than being immediately liquidated or exchanged for cash. Historically, government officials have often liquidated unclaimed cryptocurrency assets shortly after transferring them to state custody, which means owners who later file claims may receive cash proceeds at an earlier (possibly lower) market price. The bill now allows state administrators to store unclaimed digital assets in physical form and requires such assets to be held for at least one year before liquidation. (The Block)

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