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CA AB2335
Bill
Status
Introduced
2/19/2026
Primary Sponsor
Avelino Valencia
Click for details
AI Summary
- Creates a Digital Asset Reserve Fund where unclaimed digital financial assets (cryptocurrency) will be deposited after escheating to the state following 3 years of owner inactivity
- Requires the State Controller to convert escheated digital assets into "high-quality digital assets" defined as those with at least $100 billion average market capitalization over the prior 12 months
- Establishes a 7-member Digital Asset Reserve Fund Board consisting of the Controller, State Treasurer, Director of Finance, and 4 appointed members with digital asset expertise to create investment guidelines
- Mandates quarterly public reports detailing the amount, estimated value, and changes in digital assets held in the fund
- Requires holders of digital assets to notify owners that unclaimed property will be transferred to the Digital Asset Reserve Fund, with notice sent 6-12 months before the escheatment deadline
Legislative Description
Unclaimed property: digital financial assets.
Last Action
Referred to Coms. on JUD. and B. & F.
3/9/2026
Committee Referrals
Judiciary3/9/2026
Full Bill Text
No bill text available