Louisiana law sets 2027 rules for unclaimed digital assets

The law treats a digital asset account as abandoned after three years without signs of the owner’s interest. Digital assets include virtual currency, cryptocurrency, certain electronic assets, and other digital-only assets with economic or access rights. Securities, game-related content, gift cards, and loyalty cards are excluded. An owner’s transactions, account access, or other actions showing awareness of the property count as signs of interest. Not responding to a holder’s message does not count by itself. If the holder sends first-class mail to the owner and it is returned as undeliverable, the account is presumed abandoned three years after the return.

The treasurer may order a holder to sell a digital asset early and direct how reported assets are transferred or sold. These rules apply to holders of reported abandoned digital assets and to the treasurer. An order to sell must explain its reasons and rely on the treasurer’s ability to manage the asset, limits in the reporting format or database, or custody costs that exceed the asset’s value. Lack of an operating custodian alone is not enough. If a holder lacks the key or authority needed to transfer an asset, it must report and keep the asset, check at least yearly whether transfer is possible, and deliver it at the next reporting cycle. The treasurer may direct a sale if it cannot accept the asset for a listed reason. A holder must transfer an asset within 30 days after reporting it, if able, and reconcile the transfer within 30 days after delivery. The treasurer generally must wait three years after receipt before selling an asset.

The treasurer generally must wait three years after receiving a digital asset before selling it; an approved claimant may ask for a sale and the net proceeds. This applies to digital assets received by the treasurer and claimants with approved claims. The treasurer may sell sooner if technology, security, or regulatory limits prevent reasonable custody, or if custody, administration, or security costs exceed the asset’s value. The treasurer may decline a sale if its likely cost exceeds the proceeds. The three-year wait begins when the treasurer receives the asset. A claimant may request a sale after approval of the claim.