Virginia Just Blocked the State From Selling Your Dormant Crypto for at Least...
Virginia Governor Abigail Spanberger signed House Bill (HB) 798 on 13 April 2026. The law extends Virginia's Disposition of Unclaimed Property Act to cover digital assets — cryptocurrencies such as Bitcoin and Ethereum held in inactive accounts. It takes effect on 1 July 2026.
Five-year inactivity triggers abandonment rulesUnder HB 798, a digital asset account is presumed abandoned after five years of inactivity. The bill was introduced by Delegate C.E. Cliff Hayes Jr., a Democrat. It passed the Virginia House 96–2 and cleared the Senate 40–0 before reaching Spanberger's desk.
State holds crypto in original form for one yearHolders with full private key access — meaning full control of a crypto wallet — must transfer dormant assets to the state in their native form. The state treasurer cannot sell any delivered digital assets for at least one year. Holders facing technical barriers must notify the administrator in writing. The state then determines an alternative course of action.
"The law updates the state's unclaimed property statute to cover digital assets and ensures they are escheated in-kind — meaning assets transfer to state custody in their original form, not converted to cash." — Paul Grewal, Chief Legal Officer, Coinbase. Source: X (@iampaulgrewal)
Owners can reclaim assets within the windowAsset owners who file a claim within the one-year hold period receive the greater of the sale proceeds or the market value at the time of the claim. HB 798 states that the administrator "may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report." Under HB 798, a digital asset account is presumed abandoned after five years of inactivity. The bill was introduced by Delegate C.E. Cliff Hayes Jr., a Democrat. It passed the Virginia House 96–2 and cleared the Senate 40–0 before reaching Spanberger's desk.
State holds crypto in original form for one yearHolders with full private key access — meaning full control of a crypto wallet — must transfer dormant assets to the state in their native form. The state treasurer cannot sell any delivered digital assets for at least one year. Holders facing technical barriers must notify the administrator in writing. The state then determines an alternative course of action.
"The law updates the state's unclaimed property statute to cover digital assets and ensures they are escheated in-kind — meaning assets transfer to state custody in their original form, not converted to cash." — Paul Grewal, Chief Legal Officer, Coinbase. Source: X (@iampaulgrewal)
Owners can reclaim assets within the windowAsset owners who file a claim within the one-year hold period receive the greater of the sale proceeds or the market value at the time of the claim. HB 798 states that the administrator "may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report." Holders with full private key access — meaning full control of a crypto wallet — must transfer dormant assets to the state in their native form. The state treasurer cannot sell any delivered digital assets for at least one year. Holders facing technical barriers must notify the administrator in writing. The state then determines an alternative course of action.
"The law updates the state's unclaimed property statute to cover digital assets and ensures they are escheated in-kind — meaning assets transfer to state custody in their original form, not converted to cash." — Paul Grewal, Chief Legal Officer, Coinbase. Source: X (@iampaulgrewal)
Owners can reclaim assets within the windowAsset owners who file a claim within the one-year hold period receive the greater of the sale proceeds or the market value at the time of the claim. HB 798 states that the administrator "may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report." "The law updates the state's unclaimed property statute to cover digital assets and ensures they are escheated in-kind — meaning assets transfer to state custody in their original form, not converted to cash." — Paul Grewal, Chief Legal Officer, Coinbase. Source: X (@iampaulgrewal)
Owners can reclaim assets within the windowAsset owners who file a claim within the one-year hold period receive the greater of the sale proceeds or the market value at the time of the claim. HB 798 states that the administrator "may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report." Owners can reclaim assets within the windowAsset owners who file a claim within the one-year hold period receive the greater of the sale proceeds or the market value at the time of the claim. HB 798 states that the administrator "may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report." Asset owners who file a claim within the one-year hold period receive the greater of the sale proceeds or the market value at the time of the claim. HB 798 states that the administrator "may subsequently direct such holder of unclaimed digital assets to liquidate the reported but unremitted digital assets not less than one year following the filing of a report." Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment. All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions. Coinpaprika is not liable for any losses resulting from the use of this information.