Committee adopts substitute to create state framework for presumed‑abandoned digital assets
The committee adopted a substitute to House Bill 947 that defines digital assets, creates custodian and notice rules, and sets procedures for delivery and liquidation of presumed‑abandoned digital assets; the substitute was reported favorably after Treasury input.
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Lawmakers adopted a substitute to House Bill 947 establishing a statutory framework for presumed‑abandoned digital assets (cryptocurrency and similar instruments). The substitute amends the unclaimed‑property chapter to define “digital assets” and “digital asset holders,” set presumptions for abandonment, require notification to apparent owners and to the state, and provide processes for liquidation and reporting.
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