2024 New York Laws
ABP - Abandoned Property
Article 13 - Miscellaneous Unclaimed Property
1319 - Unclaimed Virtual Currency.

§  1319.  Unclaimed  virtual currency. 1. Any virtual currency held or
owing by any banking organization, corporation or other  entity  engaged
in   virtual  currency  business  activity  which  shall  have  remained
unclaimed by the person entitled thereto for  a  period  of  five  years
shall be deemed abandoned property if:
  (a)  the  last  known  address  of the person entitled to such virtual
currency as shown on the books and records of the entity engaging in the
virtual currency business activity is located in the state; or
  (b) the last known address of the  person  entitled  to  such  virtual
currency is not shown on the books and records of the entity engaging in
the virtual currency business activity and the entity is incorporated in
this state.
2. (a) Any virtual currency held or owing by a banking organization, a
corporation  or other entity engaged in virtual currency business deemed
abandoned under this section as of the thirtieth day  of  the  preceding
June  shall  be  paid  or  delivered to the comptroller on or before the
tenth day of the next succeeding November.
  (b) Payment or delivery shall be accompanied by a  true  and  accurate
report  setting forth information relating to such abandoned property as
the comptroller may require.
3. Virtual currency reported  to  the  comptroller  pursuant  to  this
section  shall  be  sold  on  any established exchange, or by such other
means  as  the  comptroller  shall  deem  advisable,  as  soon  as   the
comptroller in his or her discretion deems practicable.
4.  The  proceeds  of  the  sale  of  virtual currency, less all costs
incurred in connection  with  such  sale,  shall  be  deposited  by  the
comptroller  in  the  abandoned  property  fund and any claimant to such
virtual currency shall be entitled only to the proceeds of the  sale  of
such virtual currency by the comptroller.