The post California Advances Crypto Unclaimed Property Bill – Coincu appeared on BitcoinEthereumNews.com.

Key Points: California House approves crypto unclaimed property bill, moving to Senate. Assets remain encrypted, not liquidated. Concerns over privacy and asset control raised. PANews reported that on June 5, the California House passed the AB-1052 bill with unanimous support, shifting dormant crypto assets to state oversight. This measure poses significant implications for digital asset regulations and consumer protections. AB-1052 intends to treat unmoved crypto assets as unclaimed property, similar to traditional laws, amid discussions on privacy and control. California’s AB-1052 Bill Could Reshape Crypto Governance California’s legislature has approved AB-1052, a bill processing dormant crypto assets like unclaimed property. Spearheaded by Assemblymember Avelino Valencia, the bill’s passage marks its way to the Senate for further deliberation. Unmoved crypto assets for three years will be managed by the state, though not liquidated. Supporters cite similar traditional asset practices aiming to protect asset security. Critics argue this approach violates self-custody principles deeply rooted in cryptocurrency ethos. “AB 1052 not only strengthens the legitimacy of digital assets but also modernizes California’s financial regulations and enhances consumer protections. Digital assets—such as cryptocurrency, stablecoins, and tokenized assets—are no longer abstract or futuristic financial instruments; they are here and increasingly used by businesses and consumers,” said Assemblymember Avelino Valencia. The bill’s progression has stirred limited public discourse from industry leaders like Vitalik Buterin and CZ, indicating a silent yet crucial regulatory shift. While significant public reactions from major figures remain scarce, the Senate review could prompt more stakeholder engagement. According to CoinMarketCap, Bitcoin (BTC) currently holds a price of $104,816.79 and a market cap of $2.08 trillion, commanding a 63.29% market dominance as of June 5, 2025. Over 24 hours, the BTC price decreased by 0.62%. Trading volume within the same period reached $44.44 billion, reflecting a 2.89% decline. These statistics demonstrate relative stability amid…

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Filed under: News - @ June 5, 2025 2:26 am