Maryland Uniform Disposition of Abandoned Property Act – Revisions

SB 665 updates Maryland's abandoned property law to include virtual currency (like cryptocurrency) as property subject to the law, directly affecting individuals who hold forgotten digital assets and financial institutions holding them. Key changes include defining "apparent owner" to include digital activity (e.g., accessing accounts or directing transactions), altering how abandonment is presumed for digital assets, and updating procedures for claiming property. The bill also allows the State Comptroller to retain some funds from selling abandoned property for specific purposes. These changes ensure digital assets are treated consistently with traditional abandoned property under Maryland law.