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Virginia Approves One Year In Kind Hold for Dormant Crypto Assets
Virginia will hold dormant crypto assets in-kind for at least one year under a new state law. The measure changes how unclaimed digital assets move to the state. Governor Abigail Spanberger signed House Bill 798 into law on Monday. The law says unclaimed crypto in customer accounts will transfer to Virginia in its original form. The new law focuses on crypto assets left inactive in customer accounts. It sets a clear process for how the state will receive and hold them. Under House Bill 798, the assets will transfer “in-kind” instead of being converted before transfer. That means the state will keep the assets in ... (full story)
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