This can't be real

[BlackHatCoiner]

It's treated just like any other property. Like always, the state tries to get its hand as much onto individuals' properties as possible. I wouldn't be surprised if one day, an executive order 6102 was issued but for cryptocurrencies on exchanges.

That was probably the 67th sign you needed to get your coins off exchanges. Just stick with a hardware wallet and sleep easy at night knowing the state can't touch your sats.

[Y3shot]

This will only affect those who use exchanges to hodl their coins because the government has full control of the exchange. This will explain better to those who are very interested in keeping their coins in exchanges. There are so many threats in hodling Bitcoin in exchanges: the threat of hacks, scams, and the government. A non-custodial wallet is the best for hodling Bitcoin because there is no form of intimidation or whatever that can make anyone have control or access to your assets. Not your keys, not your coins. I'm glad for this upcoming help because it will make people understand what they need to know.

[Antona]

This will only affect those who use exchanges to hodl their coins because the government has full control of the exchange. This will explain better to those who are very interested in keeping their coins in exchanges. There are so many threats in hodling Bitcoin in exchanges: the threat of hacks, scams, and the government. A non-custodial wallet is the best for hodling Bitcoin because there is no form of intimidation or whatever that can make anyone have control or access to your assets. Not your keys, not your coins. I'm glad for this upcoming help because it will make people understand what they need to know.

Exactly this can't be stressed enough. Keeping coins on an exchange is like leaving your gold bars in a stranger's warehouse, they have the key not you, the government a hacker or the exchange's own insolvency can take it overnight, the "upcoming help" is good but the lesson is timeless move to self-custody, start small, learn the process, then move the rest.

[Achalugo BTC]

This will only affect those who use exchanges to hodl their coins because the government has full control of the exchange. This will explain better to those who are very interested in keeping their coins in exchanges. There are so many threats in hodling Bitcoin in exchanges: the threat of hacks, scams, and the government. A non-custodial wallet is the best for hodling Bitcoin because there is no form of intimidation or whatever that can make anyone have control or access to your assets. Not your keys, not your coins. I'm glad for this upcoming help because it will make people understand what they need to know.

You are totally right, which is why people should do what they know its the right thing to do, that is they should be good at verifying information about some certain things like wallets, especially those that wants to hold Bitcoin for a long time.
And this will help them to know the right thing to do and at the right time as well, which will also help them to prevent some common mistakes that will cause them more of harm than good.
Which they will also be able to detect which one is fake and which one is real and can also be able to detect when its a scam, which will help or prevent them from falling into pitfalls. That is why people should be careful and be at alert incase of any unnecessary drama, they will be able to tackle it without really be affected.

[Alone055]

Nothing surprising or unexpected for me, because if governments start regulating cryptocurrencies and related platforms, they will do things their way, and their way is to give us no privacy, especially when it comes to our finances or financial activities, because they want to have complete access to our accounts, the balances we have in them, and they want to see whatever transactions we make from any of our financial accounts, and they have this control with traditional currencies and accounts, and now they want to have the same level of control with cryptocurrencies as well, so they are making their way towards it.

Besides, people who are active in the crypto industry don't need to worry about such a law or bill because they won't keep their coins idle for three straight years, and those who are holding for the long term will probably not keep their coins in a centralized exchange or custodial wallet, and if someone does it, they are completely out of their mind or they lack basic knowledge or understanding about how they should keep their assets if they are planning to not use them regularly.

[Nwada001]

Exactly this can't be stressed enough. Keeping coins on an exchange is like leaving your gold bars in a stranger's warehouse, they have the key not you, the government a hacker or the exchange's own insolvency can take it overnight, the "upcoming help" is good but the lesson is timeless move to self-custody, start small, learn the process, then move the rest.

Some people are just too lazy or too scared to take responsibility for holding their own coin and know that the entire safety of that asset is on them, which is why most of them have chosen to use exchanges instead of their private wallet. They believe that it's safer that way, and even if anything happens, it's easier for them to get repaid by the exchange, and they don't think far enough to realize that bankruptcy is real. And even after new rules that could have pushed them to start using self-custody wallets, they still prefer to keep the exchange active rather than sending to a private wallet.

[Asuspawer09]

I mean, if that is true, it is straight up ridiculous just thinking about it, but I guess blockchain is still anonymous you could hide your identity if you know what you are doin there was no way they are going to know that even if they track all of the address, there are a lot of things that I dont think they can't easily implement how do they know the location of the addresses, if they are going to track the untouched address I mean there are just million or even billions of address out there you can't track its location.

Pretty sure if your Bitcoin is on a safe wallet, your key your coin there was no way they could track seize that, it might be on the exchange since it is still businesses they might be able to track your account on that, or even through your banks, I mean if we are talking about legallities if it is a bill already I mean just comply it's not really that difficult you just need to maybe atleast have some transactions right? not just holding a coin untouched for a long years, I mean it's doable rather than stressing how you are going to take it out or withdraw it.

[pawel7777]

This is the first time I'm hearing this, but the bill was introduced in February 2025, so it's almost a year old.
The state of California must be desperate for money if they resort to such blatant money-grab tactics.
I'm not sure how much they are hoping to benefit from that. Maybe they're looking to grab some long-forgotten balances, or perhaps they are after cryptos of deceased people, who either have no next of kin, or whose families are not aware of their crypto holdings.
I don't expect this will make any significant income to the state's budget.

Or maybe California's legislators are secretly good guys and this is their way of reminding people to use non-custodial wallets, which, for obvious reasons, won't be affected.

[Rgram]

Funny how criminal elements want to use the disguise of the law or constitution to claim that which is someone else’s property, censor Bitcoin and have a great deal of control over it. Governments and its officials are the real thieves in our world today.

When they aren’t having better ways to increase the economy of a state through productions and work force, they find means to steal from its citizens thereby, creating a whole different problem of a different kind.

They just show us what a weapon they would have whirled if Bitcoin was centralized, it’s a good thing Bitcoin is decentralized and their would be ways to navigate through these policies successfully.

[DPHOR]

If is something like this is passed into law concerning about the bitcoin then should be true about the bitcoin that is why you must not holding your asset on a particular wallets or it would be that ideal for you to keep moving your investment towards different wallet as this new law will for sure affects almost everyone who are doing short term investment or can be moving them within different wallets when it either getting close to 3 years time and may actually discourage some people not to do their investment on bitcoin.

[Pi-network314159]

Can someone please confirm if this is real? Someone close sent me this news this morning that you can't keep holding your coins for three years straight untouched anymore, the law will claim it.

I don't know how true this is, but I believe this can only work on exchange but can not work on non custodial wallet where you have the authority and power to make  decition on how and when to do any transactions. That's why it is often said not your key not your coin, which signifies that if you don't have access to your wallet, then it means that you are already doomed. People has been warned to stay clear from HODLing Bitcoin or any other coin in exchange simply because anything can happen at any given Time. Just bear it in mind that any coin you don't hold in your non custodial wallet is just a risk. Apart from your coin being taken by government, exchange hack may still affect it someday.