Bill > SB1069

This bill updates West Virginia's Uniform Unclaimed Property Act to address modern practices, specifically concerning "digital financial assets," which are defined as intangible assets recorded on a secure digital ledger like a blockchain, including cryptocurrencies. The key provisions require holders of these abandoned digital assets to report them according to existing unclaimed property rules and allow for their delivery to the State Treasurer either in their original digital form or as cash proceeds from a sale that occurred before remittance, consistent with the holder's usual business practices. Importantly, the State Treasurer will hold digital financial assets delivered in their native form without immediate liquidation, preserving them for at least three years before any discretionary sale, while still maintaining existing procedures for owner claims and notices, and clarifying that the Treasurer is not required to build new digital asset custody infrastructure.

Government Affairs

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=1069&year=2026&sessiontype=RS&btype=bill