update Uniform Unclaimed Property Act to include provisions related to virtual currency and notice requirements.

Abandoned virtual currency sales and notices

South Dakota treats virtual currency as abandoned three years after the owner's latest sign of interest. That means an action or message showing knowledge of the property and intent to keep it. The holder generally must sell it within the 30 days before filing its annual unclaimed-property report. The holder then sends the proceeds to the state treasurer. For currency worth $50 or more, the holder must mail notice unless its records indicate the owner's address is inaccurate. The notice must warn that the currency may be sold before transfer to the state. Owners cannot recover later price gains from the holder or state. If a sale is impossible or reasonably believed impossible, the holder must promptly explain why in writing and follow state instructions. The state may decline to treat currency as abandoned when it cannot be freely transferred, has nominal value, or is worth less than estimated maintenance, notice, or sale costs. It may also exempt types of currency from reporting or sale by rule. The law's definition covers digital value without U.S.-recognized legal-tender status, but excludes transfer software or protocols, game content, and loyalty or gift cards.