California enacts SB 822, bans forced liquidation of unclaimed cryptocurrency holdings
California Governor Gavin Newsom signed SB 822, making the state the first in the U.S. to prohibit forced liquidation of unclaimed cryptocurrency assets. The law requires custodians to retain digital assets like Bitcoin and Ethereum in their original form instead of converting them into fiat currency. Lawmakers say this measure enhances asset-holder protection and investor confidence. Analysts expect other U.S. states to adopt similar rules, marking a step toward uniform digital-asset regulation nationwide.
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1 day ago
California enacts SB 822, bans forced liquidation of unclaimed cryptocurrency holdings
California Governor Gavin Newsom signed SB 822, making the state the first in the U.S. to prohibit forced liquidation of unclaimed cryptocurrency assets. The law requires custodians to retain digital assets like Bitcoin and Ethereum in their original form instead of converting them into fiat currency. Lawmakers say this measure enhances asset-holder protection and investor confidence. Analysts expect other U.S. states to adopt similar rules, marking a step toward uniform digital-asset regulation nationwide.
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California enacts SB 822, bans forced liquidation of unclaimed cryptocurrency holdings
1 day ago
1 min read
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California’s new SB 822 law bans forced liquidation of unclaimed crypto, protecting digital assets in their original form.
California Governor Gavin Newsom signed SB 822, making the state the first in the U.S. to prohibit forced liquidation of unclaimed cryptocurrency assets. The law requires custodians to retain digital assets like Bitcoin and Ethereum in their original form instead of converting them into fiat currency. Lawmakers say this measure enhances asset-holder protection and investor confidence. Analysts expect other U.S. states to adopt similar rules, marking a step toward uniform digital-asset regulation nationwide.
California Governor Gavin Newsom signed SB 822, making the state the first in the U.S. to prohibit forced liquidation of unclaimed cryptocurrency assets. The law requires custodians to retain digital assets like Bitcoin and Ethereum in their original form instead of converting them into fiat currency. Lawmakers say this measure enhances asset-holder protection and investor confidence. Analysts expect other U.S. states to adopt similar rules, marking a step toward uniform digital-asset regulation nationwide.