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VA HB798
Bill
Status
Enrolled
3/11/2026
Primary Sponsor
C.E. Hayes
Click for details
AI Summary
- Adds definitions for "digital asset," "digital asset account," and "private key" to Virginia's Unclaimed Property Act, covering cryptocurrency and similar digital representations of value used as a medium of exchange or store of value
- Excludes merchant reward programs, in-game currencies, and SEC-registered securities from the definition of digital assets
- Establishes a five-year abandonment period for digital asset accounts, with the clock resetting upon any account activity, electronic access, or communication from the owner
- Requires holders with full control of private keys to deliver unclaimed digital assets to the State Treasurer in native form; holders with only partial keys must maintain the assets until transfer becomes possible
- Authorizes the administrator to direct liquidation of digital assets if the state custodian cannot accept them, with a one-year holding period before sale on digital asset exchanges
Legislative Description
Virginia Disposition of Unclaimed Property Act; definitions, digital assets.
Last Action
Governor's Action Deadline 11:59 p.m., April 13, 2026
3/14/2026
Committee Referrals
Finance and Appropriations2/25/2026
General Laws and Technology2/9/2026
Communications, Technology and Innovation1/13/2026
Full Bill Text
No bill text available