NY S09360

Adds definitions of "virtual currency" and "virtual currency business activity" to the abandoned property law, referencing regulatory standards in 23 NYCRR 200.2(p) and (q).

Establishes that virtual currency held by banking organizations or entities engaged in virtual currency business activity is abandoned property if unclaimed for five years and either the owner's last known address is in New York State or the holding entity is incorporated in New York.

Requires entities holding abandoned virtual currency to report and deliver it to the State Comptroller by November 10th following the determination date of June 30th.

Directs the Comptroller to sell virtual currency on an established exchange or by other means deemed appropriate and deposit net proceeds (after sale costs) into the abandoned property fund, with claimants entitled only to sale proceeds.

Takes effect immediately upon enactment.