VirginiaHB7982026 Regular SessionHouseWALLET

Virginia Disposition of Unclaimed Property Act; definitions, digital assets.

Sponsored By: Jen Kiggans - to resign 12/31 (Republican)

Became Law

Summary

Virginia Disposition of Unclaimed Property Act; digital financial assets. Creates a statutory framework for the treatment and disposition of unclaimed intangible property in the form of digital assets, as defined in the bill.

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

4 provisions identified: 0 benefits, 1 costs, 3 mixed.

Digital assets now covered as unclaimed property

Virginia now treats digital assets (like crypto) as unclaimed property. The law defines what counts as a digital asset and what is excluded, such as in‑game items and SEC‑registered securities. It explains what a digital asset account and a private key are. This brings exchange and wallet accounts into state unclaimed‑property rules.

How Virginia sells and returns unclaimed crypto

The Treasurer sets processes to reunite owners with digital assets and generally holds crypto or securities for at least one year before selling. If sold early and you claim within a year, you get the higher of the sale proceeds or the market value at your claim; after a year, you get the asset if still held or the proceeds, and you cannot claim gains after delivery. The state sells to the highest bidder and may use exchange prices; it can reject low bids or skip a sale if costs exceed value. A sale inside Virginia needs one newspaper notice at least three weeks ahead; online sales count as out‑of‑state and can use other notice. Buyers get clear title free of prior claims, and the Treasurer may destroy items with little commercial value.

What exchanges must do with unclaimed crypto

If a holder controls the private keys, it must report and deliver the native digital assets to the State Treasurer and provide proof if asked. If the holder has only part of a key or cannot move the asset, it must keep holding it and promptly tell the Treasurer why it cannot liquidate. The Treasurer can require holders to report assets, keep holding them, and later sell them at least one year after the report. If the state’s custodian cannot accept native assets, the Treasurer can order sale at the time of reporting.

When your digital asset account is abandoned

A digital asset account is presumed abandoned after five years with no owner activity or contact. The clock stops if you trade, deposit, withdraw, log in, use a related account, or otherwise show you know the account exists. Holders must send a first‑class letter to your last known address before turning assets over. A last known address can be any info that shows your state, even if mail cannot be delivered.

Sponsors & Cosponsors

Sponsor

  • Jen Kiggans - to resign 12/31

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 226 • No: 3

Senate vote 3/4/2026

Passed Senate Block Vote

Yes: 40 • No: 0

Senate vote 3/3/2026

Reported from Finance and Appropriations

Yes: 14 • No: 0

Senate vote 3/3/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote 3/3/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/25/2026

Reported from General Laws and Technology and rereferred to Finance and Appropriations

Yes: 15 • No: 0

House vote 2/6/2026

Read third time and passed House

Yes: 96 • No: 2

House vote 2/2/2026

Reported from Communications, Technology and Innovation with substitute

Yes: 21 • No: 1

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0669)

    4/13/2026Governor
  2. Approved by Governor-Chapter 669 (effective 7/1/2026)

    4/13/2026Governor
  3. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/14/2026Governor
  4. Enrolled Bill communicated to Governor on March 14, 2026

    3/14/2026House
  5. Signed by Speaker

    3/12/2026House
  6. Fiscal Impact Statement from Department of Planning and Budget (HB798)

    3/11/2026House
  7. Bill text as passed House and Senate (HB798ER)

    3/11/2026House
  8. Enrolled

    3/11/2026House
  9. Signed by President

    3/11/2026Senate
  10. Passed Senate Block Vote (40-Y 0-N 0-A)

    3/4/2026Senate
  11. Read third time

    3/4/2026Senate
  12. Passed by for the day Block Vote (Voice Vote)

    3/3/2026Senate
  13. Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

    3/3/2026Senate
  14. Rules suspended

    3/3/2026Senate
  15. Reported from Finance and Appropriations (14-Y 0-N)

    3/3/2026Senate
  16. Reported from General Laws and Technology and rereferred to Finance and Appropriations (15-Y 0-N)

    2/25/2026Senate
  17. Referred to Committee on General Laws and Technology

    2/9/2026Senate
  18. Constitutional reading dispensed (on 1st reading)

    2/9/2026Senate
  19. Read third time and passed House (96-Y 2-N 0-A)

    2/6/2026House
  20. Fiscal Impact Statement from Department of Planning and Budget (HB798)

    2/6/2026House
  21. Engrossed by House - committee substitute

    2/5/2026House
  22. committee substitute agreed to

    2/5/2026House
  23. Read second time

    2/5/2026House
  24. Read first time

    2/4/2026House
  25. Committee substitute printed 26105592D-H1

    2/2/2026House

Bill Text

Related Bills

Back to State Legislation