Virginia Says 'Don't FOMO Sell My Crypto': State Mandates In-Kind HODLing for Unclaimed Digital Assets

Virginia just told crypto to calm down and stay in your lane—literally. Governor Abigail Spanberger dropped her signature on House Bill 798 Monday, yanking digital assets into the state's unclaimed property framework with a caveat that should make those dusty wallets feel seen: no panic-selling allowed.

The fresh-off-the-press rules now force custodians to transfer abandoned crypto in-kind—that's crypto-speak for "keep it exactly as God (or Satoshi) intended it." And before anyone gets any ideas about a quick profit grab, the state has to hold those assets for a minimum of one year before hitting the liquidation button.

"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 bill drily notes.

By preserving crypto in its original tokenized glory, Virginia sidesteps the nightmare of forced selling into a bear market—because nothing says "sorry your life savings is now worth 80% less" like handing someone cash from 2022. Owners who eventually come crawling back might actually catch some upside instead of discovering their moon bag became a cash pile that missed the next liftoff.

The law also settles the eternal question of when your coin collection officially becomes "abandoned," setting a five-year inactivity cliff—unless you decide to log in, make a transaction, or at least pretend to care about your holdings once in