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WV SB1069
Bill
Status
2/23/2026
Primary Sponsor
Mike Oliverio
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AI Summary
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Adds definitions for "digital financial asset" and "virtual currency" to West Virginia's Uniform Unclaimed Property Act, classifying cryptocurrency and blockchain-recorded assets as intangible property subject to unclaimed property rules
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Allows holders of abandoned digital financial assets to deliver them to the State Treasurer either in native digital form or as liquidated cash proceeds converted prior to remittance
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Requires the State Treasurer to preserve digital financial assets in native form for a minimum of three years before any discretionary liquidation may occur
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Explicitly states the State Treasurer is not required to develop, procure, maintain, or operate digital asset custody infrastructure
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Maintains all existing unclaimed property processes, notice requirements, and owner claim procedures for digital assets
Legislative Description
Aligning Uniform Unclaimed Property Act with modern practices
Banking and Finance
Last Action
To Government Organization
2/23/2026