"2. Unclaimed property laws and inactive custodial accounts Assembly Bill 1052 (AB 1052) incorporates digital assets held in custodial accounts (like those with exchanges) into the state's unclaimed property laws if they sit idle for 3 years"
How do they know if my coins sit in my exchange, hot or cold wallet or not? After 3 years they can be confiscated as abandoned? They will hold it for you at that point where you must show ID to regain then. Is this not the stupidest thing? Why not savings accounts and retirement funds too? How do they know? Does California sit around and figure ways to Fu'k it's citizens?
I expect this in Canada after the Trucker thing, but a US state? Please! This will be killed.
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