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OH HB426
Bill
Status
8/28/2025
Primary Sponsor
Josh Williams
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AI Summary
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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
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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
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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
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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
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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