Virginia keeps unclaimed crypto for one year before selling it
Virginia updated its law to hold unclaimed cryptocurrency in its original form for at least one year before liquidating it. Previously, unclaimed crypto assets would be quickly converted to cash. This change protects the value of forgotten crypto that gets turned over to the state. When crypto is held in its original form rather than immediately sold, owners have a better chance of recovering assets that have grown in value. The law recognizes that cryptocurrency is different from traditional cash and shouldn't be treated the same way. This approach balances protecting abandoned assets while giving owners a reasonable window to claim them.
Why it matters
If you ever lose access to crypto holdings or they become unclaimed, this law means the state will hold your actual coins longer, giving them time to potentially increase in value before being sold. It's one of the first laws treating crypto differently from traditional money in this situation.
