👇Another reason why CLARITY is a strong bill and a major improvement over the status quo. It confirms that self-custodied digital assets cannot be treated as abandoned.
CLARITY establishes that: (i) inactivity does NOT equal abandonment; (ii) no one can just seize / escheat self-custodied crypto; and (iii) owners don't have to take periodic actions just to keep their own coins.
States and custodians are still permitted to apply normal unclaimed-property rules to custodial holdings (e.g., on an exchange). This also guards against dusting schemes targeting self-custodied assets like BTC.
Time is NOW to pass CLARITY. 🇺🇸