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California · 2025–26 Regular Session · Assembly Bill

AB 1052: Digital financial assets.

Passed one chamber Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

AB 1052 is a assembly bill introduced in the California Assembly on February 20, 2025. According to its official title, it concerns: Digital financial assets. Primary sponsor: Avelino Valencia (D). Most recent recorded action (August 29, 2025): In committee: Held under submission.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Official summary

Legislative Counsel’s Digest (official, as of the latest version). Written by nonpartisan legislative staff; reproduced verbatim.

The Unclaimed Property Law provides that all intangible personal property of an apparent owner whose last known address or domicile was in the state, including intangible personal property maintained in a deposit or an account, which is held in a fiduciary capacity for the benefit of another person, escheats to the state if for more than 3 years after it becomes payable or distributable, the apparent owner has not taken specified actions showing an interest in or control of the property.

This bill would provide that intangible property held in a digital financial asset account escheats to the state 3 years after either written or electronic communication to the owner is returned undelivered, or the date of the last exercise of ownership interest, as defined, by the owner. The bill would require the holder of a private key for a digital financial asset account that has escheated to the state to transfer the digital financial asset to the Controller. The bill would authorize the Controller to appoint a custodian that holds a valid license issued by the Department of Financial Protection and Innovation, as specified.

Sponsors

Sponsors by party (alphabetical): Democratic 1

NameRolePartyChamberDistrict
Avelino ValenciaPrimary sponsorDemocraticAssembly68

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. In committee: Held under submission.
  2. In committee: Referred to suspense file.
  3. Re-referred to Com. on APPR.
  4. Withdrawn from committee.
  5. In committee: Hearing postponed by committee.
  6. Read second time and amended. Re-referred to Com. on B. & F.I.
  7. From committee: Amend, and do pass as amended and re-refer to Com. on B. & F.I. (Ayes 13. Noes 0.) (July 1).
  8. Referred to Coms. on JUD. and B. & F.I.
  9. In Senate. Read first time. To Com. on RLS. for assignment.
  10. Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 2012.)
  11. Read second time. Ordered to third reading.
  12. Read second time and amended. Ordered returned to second reading.

Sources

  1. California Legislative Information — pubinfo database export
  2. Official bill page