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OH HB426

Bill

Status

Introduced

8/28/2025

Primary Sponsor

Josh Williams

Click for details

Origin

House of Representatives

136th General Assembly

AI Summary

  • Establishes a framework for managing unclaimed digital assets (cryptocurrencies, stablecoins, NFTs, and other digital-only assets) in Ohio, with a 2-year abandonment period after undelivered communications or last owner activity

  • Requires holders with full control of private keys to report and deliver presumed abandoned digital assets in native form to a state-designated qualified custodian within 30 days of reporting

  • Directs the Director of Commerce to select a qualified custodian within one year of the law's effective date, based on criteria including secure storage, cybersecurity measures, regulatory compliance, and experience handling digital assets

  • Mandates the qualified custodian maintain abandoned digital assets in native form for at least 2 years before any sale, allowing owners to claim assets; proceeds from eventual sales go to the unclaimed funds trust fund

  • Explicitly excludes digital assets from the definition of "unclaimed funds" under existing Ohio unclaimed property law, creating a separate regulatory pathway for these assets

Legislative Description

Regards safekeeping and management of unclaimed digital assets

Commerce

Last Action

Referred to committee: Technology and Innovation

9/15/2025

Committee Referrals

Technology and Innovation9/15/2025

Full Bill Text

No bill text available