Virginia Enacts Law Requiring State to Hold ‘Unclaimed’ Crypto in Original Form for One Year
By Micah Zimmerman
Virginia Governor Abigail Spanberger signed House Bill 798 into law, effective July 1, 2026, requiring the state to hold unclaimed cryptocurrency—dormant for five years—in its original form for at least one year before liquidation. This in-kind transfer addresses concerns over immediate sales by states, allowing owners to reclaim assets in native form or the greater of sale proceeds or current market value. The law updates unclaimed property statutes and has received positive feedback from industry leaders like Coinbase's chief legal officer.
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