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Senate modernizes unclaimed-property rules to include dormant digital-asset accounts
Summary
Senators approved HB1256 to treat certain dormant digital-asset accounts as unclaimed property after three years when mailed notice is returned; technical amendments clarified notification and timing and the bill passed unanimously.
The Senate adopted HB1256 to add a modern custody regime for unclaimed digital assets. Sen. DuPlessis explained that the bill prescribes a three-year inactivity period and a returned-first-class-mail presumption as grounds for abandoning a digital asset account, so that custodians can follow a clear, owner-protective process.
Floor amendments refined the notice and technical language. Proponents framed the bill as closing a gap in current law that leaves some digital-asset holders without statutory protection, and the bill passed on final passage with broad support.
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