AN ACT CONCERNING CRYPTOCURRENCY, PIG BUTCHERING SCAMS AND ASSET FORFEITURE.

HB 5237 defines cryptocurrency in criminal law to align with banking standards and addresses pig butchering scams (a type of fraud where scammers build trust before stealing money). The bill allows law enforcement to seize digital wallets linked to theft *before* a conviction to fund victim compensation, while requiring a fair hearing to notify the wallet holder before seizure. It directly affects victims of cryptocurrency fraud, digital wallet users, and law enforcement handling such cases. The law aims to streamline victim restitution and due process in crypto-related crimes without altering criminal penalties.