106 Iowa L. Rev. 1923 (2021)

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Abstract

With states realizing the potential bounty associated with unclaimed cryptocurrency, they are increasingly amending their unclaimed property statutes to allow state administrators to take control of these assets as an untapped source of revenue. However, both states and the Uniform Law Commission have failed to adequately plan for the complicated nature of cryptocurrency, making the implementation of these laws extremely complicated, if not impossible. In this Note, I argue the Revised Uniform Unclaimed Property Act and all relevant state statutes need to be amended to add clarity for state administrators as well as unclaimed property holders and owners. Additionally, states need to improve their technological capabilities to hold these assets and properly dispose of them.