The proposed bill would update current statutes by introducing new provisions for the forfeiture of digital assets, which are defined as virtual currencies or cryptocurrencies. Specifically, it empowers courts to order the forfeiture of digital assets owned by individuals convicted of offenses if those assets were used in, acquired through, or are traceable to the offense. This marks a significant expansion of the current law, which does not address digital assets. The bill also establishes a "bitcoin and digital assets reserve fund" to manage these forfeited assets and outlines procedures for their sale and secure storage, including the use of state-approved digital wallets.

Additionally, the bill modifies existing definitions related to property forfeiture, such as clarifying "abandoned property" and updating terms like "injured person," "interest holder," and "owner." It specifies the allocation of proceeds from the sale of forfeited digital assets, ensuring that the first $300,000 goes to the anti-racketeering revolving fund, with any excess divided between the state general fund and the new reserve fund. The State Treasurer is also granted the authority to invest these funds in digital assets or related exchange-traded funds, thereby modernizing the legal framework to accommodate the growing significance of digital assets in property forfeiture.

Statutes affected:
Introduced Version: 44-337
House Engrossed Version: 13-4301, 13-4304, 13-4305, 13-4315, 41-180, 47-9102, 13-105, 13-3413, 13-3401, 13-2314, 13-3911, 13-3912, 13-3913, 13-3914, 13-3915, 13-4313, 13-2314.01, 13-2314.03, 13-4310
Senate Engrossed Version: 13-4301, 13-4304, 13-4305, 13-4315, 41-180, 47-9102, 13-105, 13-3413, 13-3401, 13-2314, 13-3911, 13-3912, 13-3913, 13-3914, 13-3915, 13-4313, 13-2314.01, 13-2314.03, 13-4310