SAFER Act of 2026
Rep. Liccardo Introduces Bipartisan SAFER Act to Stop States From Seizing Unclaimed Crypto and Stocks
The SAFER Act of 2026 is currently in the early stages of the legislative process. It was recently introduced and sent to the House Committee on Financial Services for review. The bill is actively moving forward as it waits for the committee to discuss its next steps.
Legislative Progress
This bill has support from both parties and addresses a growing issue with digital assets, but it may face pushback from state governments that rely on unclaimed property as a source of revenue.
Key Points
Impact Analysis
Personal Impact
Life & Work
Many homeowners also hold investment accounts, retirement accounts, or brokerage accounts that could be affected by state escheatment laws if they go inactive. This bill protects those investment holdings from being seized simply because the account holder has not logged in or made contact with the financial institution for a few years.
“The term ``investment account'' means an account, including a retirement account, that can be used to hold, manage, buy, sell, or trade a digital asset or security.”
Programs
Activities
Milestones
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articlesSTATE BANKING LAWS—Senate, House make moves on unclaimed property escheatment laws
The SAFER Act would bar states from escheating securities, digital assets such as cryptocurrency, or retirement accounts until three years after a financial institution confirmed the owner had died through a death certificate or other appropriate documentation.
Expert issues warning over US bank accounts sitting idle
The scrutiny has now reached Washington: a bipartisan bill called the SAFER Act, introduced this month by Reps. Sam Liccardo and Mike Lawler, would limit when states can take custody of securities, digital assets and investment accounts under unclaimed property laws.
Source Information
Document Type
Congressional Bill
Official Title
SAFER Act of 2026
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.