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Committee advances update to unclaimed‑property law to cover virtual currency
Summary
The joint appropriations/appropriations committee recommended a due‑pass for House Bill 11‑96, which updates the state unclaimed property code to accept liquidated virtual currency and modernizes the 'last known address' standard to increase the state's ability to reunite owners with property.
A joint legislative panel voted to send House Bill 11‑96 to the floor after sponsors and the state treasurer described the measure as a technical update that lets South Dakota collect and return dormant virtual currency once it is liquidated.
"This bill allows us to accept liquidated digital currency," State Treasurer Josh Hader told the committee, stressing that the bill requires sale of any digital asset…
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