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WV SB1069

Bill

Status

Introduced

2/23/2026

Primary Sponsor

Mike Oliverio

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • 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

  • 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

  • Requires the State Treasurer to preserve digital financial assets in native form for a minimum of three years before any discretionary liquidation may occur

  • Explicitly states the State Treasurer is not required to develop, procure, maintain, or operate digital asset custody infrastructure

  • 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

Committee Referrals

Government Organization2/23/2026

Full Bill Text

No bill text available