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.