{"id":175493,"date":"2025-10-14T17:00:49","date_gmt":"2025-10-14T14:00:49","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=175493"},"modified":"2025-10-14T16:21:12","modified_gmt":"2025-10-14T13:21:12","slug":"california-sets-landmark-crypto-protection-law","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/california-sets-landmark-crypto-protection-law\/","title":{"rendered":"California Sets Landmark Crypto Protection Law"},"content":{"rendered":"<p data-start=\"0\" data-end=\"289\">Governor Gavin Newsom <strong><a href=\"https:\/\/legiscan.com\/CA\/text\/SB822\/2025\" rel=\"nofollow\">signed<\/a><\/strong> Senate Bill 822, a measure ensuring that assets like Bitcoin and Ethereum stay in their original digital form when transferred to state custody.<\/p>\n<p data-start=\"291\" data-end=\"555\">Authored by Senator Josh Becker, the law updates California\u2019s Unclaimed Property framework to include crypto, placing it on the same legal footing as dormant bank accounts and securities. The bill passed unanimously in both chambers before being signed into law.<\/p>\n<p data-start=\"557\" data-end=\"929\">Previously, there was uncertainty over how to handle inactive crypto accounts. Early drafts even required exchanges to liquidate assets before turning them over to the state \u2013 a move criticized as creating tax and compliance issues. Joe Ciccolo of the California Blockchain Advocacy Coalition said the final version avoided those pitfalls and better protected consumers.<\/p>\n<p data-start=\"557\" data-end=\"929\"><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-175316\" href=\"https:\/\/cryptodnes.bg\/en\/top-banks-eye-public-blockchain-for-next-generation-stablecoin\/\" title=\"Top Banks Eye Public Blockchain for Next-Generation Stablecoin\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/03\/bank-1-915x600-2-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Top Banks Eye Public Blockchain for Next-Generation Stablecoin<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p data-start=\"931\" data-end=\"1196\">Under the new law, companies must attempt to contact asset owners months before reporting them as unclaimed. If there\u2019s no response, they must transfer the original digital assets \u2013 including private keys \u2013 directly to the state\u2019s crypto custodian within 30 days.<\/p>\n<p data-start=\"1198\" data-end=\"1322\" data-is-last-node=\"\" data-is-only-node=\"\">This makes California the first state to establish a clear, crypto-friendly process for managing unclaimed digital property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>California has become the first U.S. state to formally protect unclaimed cryptocurrency from being forcibly sold.<\/p>\n","protected":false},"author":9,"featured_media":79332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[72,424,271],"coin_category":[],"class_list":["post-175493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations","tag-bitcoin","tag-crypto","tag-ethereum"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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