Virginia Enacts New Crypto Asset Law

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The Commonwealth of Virginia has enacted a new law that changes how the state handles unclaimed cryptocurrency. The legislation establishes a one-year holding period for dormant digital assets before they can potentially be liquidated, a significant policy shift from previous practices.

Why it matters

This new law aims to strike a balance between protecting consumer rights over their digital assets and the state's need to manage unclaimed property. It represents an evolving regulatory approach to the growing crypto economy as more people hold digital currencies and other blockchain-based assets.

The details

The new Virginia law requires the state to hold onto unclaimed cryptocurrency for one year before potentially liquidating it. Previously, the state could claim and sell off digital assets much more quickly if owners did not come forward to claim them. This new holding period is designed to give owners more time to reclaim their dormant crypto holdings.

• The new Virginia crypto law went into effect on April 1, 2026.

What’s next

The new law will be closely watched by other states as they consider their own approaches to regulating dormant cryptocurrency and other digital assets.