Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Tom Lee, Arthur Hayes double down on $10K Ether this year

19/10/2025

President Trump’s UN Speech Could Shape Bitcoin and Crypto Outlook; Here’s How

19/10/2025

Binance listing fee drama goes nuclear

19/10/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Tom Lee, Arthur Hayes double down on $10K Ether this year

    19/10/2025

    Ethereum Looks Ready – Key Support Holds As Bulls Aim Fresh Upside Push

    19/10/2025

    $3,800 Support May Ignite The Next Wave Upward

    19/10/2025

    Sorare CEO still bullish on Ethereum despite ‘upgrade’ to Solana

    18/10/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    Here’s When to Expect the SEA Token as OpenSea Trading Volume Spikes

    17/10/2025

    FIFA Hit With Swiss Criminal Complaint Over NFT World Cup Ticket Vouchers

    17/10/2025

    NFT markets rebound after $1.2B wipeout in Friday’s crypto crash

    15/10/2025

    OhBaby Games NFT Mint Offers GameFi Bulls a Glimmer of Hope

    15/10/2025

    Tom Lee, Arthur Hayes double down on $10K Ether this year

    19/10/2025

    President Trump’s UN Speech Could Shape Bitcoin and Crypto Outlook; Here’s How

    19/10/2025

    Binance listing fee drama goes nuclear

    19/10/2025

    Bitcoin Hashrate Blasts to a Lifetime High of 1,157 EH/s

    19/10/2025
  • Blockchain

    Monad Airdrop Portal Opens as Token Launch Nears

    19/10/2025

    Starknet Taps Alpen Labs to Build Trust-Minimized Bridge for Native Bitcoin DeFi

    19/10/2025

    Kadena and Brickken launch testnet partnership to build compliant RWA infrastructure for institutions

    18/10/2025

    Quack AI Joins NTU to Accelerate On-chain Innovation

    18/10/2025

    Brevis achieves unprecedented 99% proving speed on Ethereum

    18/10/2025
  • DeFi

    Morpho Debuts DeFi Lending Opportunities on Sei Network, Advancing Cross-Chain DeFi Experience

    19/10/2025

    Jupiter launches Ultra v3 on Solana

    19/10/2025

    What Is FXRP? How Flare Is Bringing DeFi to XRP Holders

    18/10/2025

    How to Square Decentralized Finance With Regulatory Compliance

    18/10/2025

    Circuit Breakers in DeFi? Why Experts Say Managing Chaos On-Chain Isn’t That Easy

    18/10/2025
  • Metaverse

    Metaverse will revolutionize learning in the same way as Sesame Street

    10/10/2025

    Dogelon Mars Recent Metaverse Updates

    26/09/2025

    ArtGis Finance Partners with MetaXR to Expand its DeFi Offerings in the Metaverse

    17/09/2025

    KaratDAO and SecondLive Partners to Reshape Web3 Identity and Immersive Digital Worlds

    16/09/2025

    Metaverse ‘still has a heartbeat’ as NFT sales jump 27% in August

    12/09/2025
  • Regulation

    President Trump’s UN Speech Could Shape Bitcoin and Crypto Outlook; Here’s How

    19/10/2025

    Robinhood stock jumps after $200m boost from prediction markets

    19/10/2025

    A Breakthrough $13.5M Investment to Revolutionize Solana Transactions

    19/10/2025

    75% of U.S. investors have no crypto exposure

    18/10/2025

    European Central Bank targets mid-2029 for potential digital euro release

    18/10/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Binance listing fee drama goes nuclear

    19/10/2025

    Stable taps Morpho as lending partner to generate stablecoin yield

    19/10/2025

    Binance Users Hail CZ as A Savior, But DeFi Leaders Call Sinister Plot

    19/10/2025

    Are Perps and Leverage Creating Systemic Risk in Crypto Markets? Experts Weigh In

    18/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Tough year for blockchain gaming, but there’s a ‘shimmer of hope’

    17/10/2025

    MARBLEX Joins Microsoft to Accelerate AI-Driven Web3 Gaming Advancement

    16/10/2025

    Axie Infinity Introduces New Community Bounties and Expands Axie Quest

    14/10/2025

    ‘Eve Frontier’ Jumps Ship from Ethereum to Sui—Here’s Why

    13/10/2025

    Bitcoin Hashrate Blasts to a Lifetime High of 1,157 EH/s

    19/10/2025

    Bitcoin Mining and Treasury Firms Falter Together as BTC Drops 4.6% on the Week

    19/10/2025

    Public Mining Companies Raise Billions in Debt to Fund AI Pivot

    18/10/2025

    New debt-fueled era for Bitcoin miners marked by 1 zetahash milestone

    18/10/2025

    California unclaimed crypto law strengthen owner safeguards

    19/10/2025

    SEC Chair Paul Atkins Pushes to Formalize ‘Innovation Exemption’ by End of 2025

    18/10/2025

    Innovative Sanction for a Crypto Investor Who Supported Russia

    18/10/2025

    California Becomes First State to Protect Unclaimed Crypto, Coinbase CLO Reacts

    18/10/2025

    Tom Lee, Arthur Hayes double down on $10K Ether this year

    19/10/2025

    President Trump’s UN Speech Could Shape Bitcoin and Crypto Outlook; Here’s How

    19/10/2025

    Binance listing fee drama goes nuclear

    19/10/2025

    Bitcoin Hashrate Blasts to a Lifetime High of 1,157 EH/s

    19/10/2025
  • MarketCap
NBTC News
Home»Legal»California Becomes First State to Protect Unclaimed Crypto, Coinbase CLO Reacts
Legal

California Becomes First State to Protect Unclaimed Crypto, Coinbase CLO Reacts

NBTCBy NBTC18/10/2025No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • California passes bill to protect unclaimed crypto from forced liquidation

  • The law prevents automatic liquidation of dormant Bitcoin, Ethereum and other cryptocurrencies

  • Unclaimed crypto will now be transferred to the state in its original form

California is setting a new precedent in how governments handle digital money.

Governor Gavin Newsom recently signed a new law that makes it the first U.S. state to ensure unclaimed cryptocurrencies are not automatically converted into cash. Under the law, these digital assets will stay in their original form when they are handed over to the state, giving owners a better chance to reclaim what is rightfully theirs.

Bringing Cryptocurrencies Under California’s Unclaimed Property Law

Senate Bill 822, introduced by Senator Josh Becker (D–Menlo Park), extends the state’s Unclaimed Property Law to include cryptocurrencies like Bitcoin and Ethereum, putting digital assets under the same rules as abandoned bank accounts and securities.

The law establishes clear rules for handling dormant cryptocurrency accounts, those inactive for three years, by treating digital assets as intangible property under California law.

How the Law Protects Dormant Crypto

The law allows the State Controller to appoint licensed custodians to securely manage unclaimed crypto. If no owner comes forward within 18–20 months of reporting, the Controller may convert the assets to cash, ensuring the process is transparent and regulated.

Companies must notify owners 6–12 months before reporting dormant accounts, using a Controller-approved form that can restart the escheatment period. Within 30 days after reporting, holders must transfer the exact crypto, including private keys and amounts, to licensed custodians appointed by the State Controller.

Custodians must have official licenses from the Department of Financial Protection and Innovation to ensure compliance and safe management.

California Gains Support from Crypto Experts

The bill passed both the Senate and Assembly unanimously in September and was signed into law by Governor Newsom on Saturday.

The law has received strong support from the cryptocurrency community. Paul Grewal, Coinbase’s Chief Legal Officer, tweeted:

“Thank you GavinNewsom for signing SB 822, which stops the state from liquidating Californians’ unclaimed crypto investments without their consent,”

He also thanked Senator Josh Becker for sponsoring the bill and called on the state to join the 46 others, along with the SEC, in protecting the right to stake crypto on platforms like Coinbase.

Thank you @GavinNewsom for signing SB 822, which stops the state from liquidating Californians’ unclaimed crypto investments without their consent. Also thank you @SenJoshBecker, who sponsored the bill. Now it’s time for California to join the 46 other states, along with @secgov,…

— paulgrewal.eth (@iampaulgrewal) October 14, 2025

Modernizing California’s Property System

California’s SB 822 also modernizes the state’s unclaimed property system, which had long been stuck in outdated, paper-based processes.

By keeping unclaimed crypto in its original form and placing it under licensed custodians, the law protects value, ensures transparency, and makes it easier for owners to reclaim their assets.

California is leading the way in protecting digital asset owners and setting an example for other states to follow.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

California unclaimed crypto law strengthen owner safeguards

19/10/2025

SEC Chair Paul Atkins Pushes to Formalize ‘Innovation Exemption’ by End of 2025

18/10/2025

Innovative Sanction for a Crypto Investor Who Supported Russia

18/10/2025

Republican Bill Aims to Make Trump’s Bitcoin and Crypto 401K Order Federal Law

18/10/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Tom Lee, Arthur Hayes double down on $10K Ether this year

19/10/2025

President Trump’s UN Speech Could Shape Bitcoin and Crypto Outlook; Here’s How

19/10/2025

Binance listing fee drama goes nuclear

19/10/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.