Bill > HB0519

This bill modifies the Revised Uniform Unclaimed Property Act by introducing new definitions and procedures related to digital assets, which are defined as virtual currency, cryptocurrency, or other natively electronic assets that confer economic, proprietary, or access rights, excluding securities and game-related digital content. It establishes a "designated custodian" to hold securities or digital assets on behalf of the administrator, and clarifies that digital assets are presumed abandoned three years after the owner's last indication of interest or after returned mail, with specific rules for holders who lack the necessary private key or authority to transfer a digital asset. The bill also outlines procedures for the administrator to sell or liquidate digital assets, generally not before three years after receipt and notice to the owner, with provisions for selling on established exchanges or by commercially reasonable methods, and allows for liquidation before reporting if directed by the administrator, with specific conditions for holders unable to liquidate.

Budget and Finance, Business and Industry

https://le.utah.gov/~2026/bills/static/HB0519.html