California AB2335 clarifies that digital financial assets are subject to the Unclaimed Property Law.
California AB2335 amends the Code of Civil Procedure to clarify that digital financial assets are considered intangible property subject to the Unclaimed Property Law. The bill defines digital financial assets and establishes procedures for their escheatment, including notice requirements and the establishment of the Digital Asset Claims Reserve Account and Digital Asset Reserve Fund. It also outlines the process for selling escheated digital financial assets and the conditions under which they may be liquidated.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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