Bill > SB352

This bill establishes a "bitcoin and digital assets reserve fund" to be managed by the state treasurer, into which certain digital asset rewards like "airdrops" (free distributions of digital assets, often as incentives) and "staking rewards" (rewards for holding and supporting a blockchain network) will be deposited, with 10% of these deposits, excluding bitcoin itself, going to the state's general fund. The bill also defines "digital assets" to include virtual currencies, cryptocurrencies, and other digital-only assets, and "staking" as committing digital assets to a blockchain network to help operate and secure it. Furthermore, it updates existing laws concerning abandoned property to include digital assets, specifying a three-year period after which digital assets are presumed abandoned if there's no owner communication or activity, and outlines procedures for reporting, delivering, and selling abandoned digital assets, including provisions for using qualified custodians and selling on established digital asset exchanges.