Reporting Digital Assets

Digital Assets

Digital Assets means any of the following that confers economic, proprietary or access rights or powers: virtual currencies, cryptocurrencies, any other digital-only assets. 

Arizona requires the reporting and remittance of digital assets. Holders of digital assets shall send to the apparent owner notice by certified United States mail in a format consistent with the due diligence section of this handbook.  

Digital assets follow a 3 year dormancy period. 

To deliver digital assets to the Arizona Unclaimed Property unit, follow the steps below: 
Prepare a list in an MS Excel format describing the cryptocurrencies that you intend to deliver, including:  

  • Cryptocurrency name  
  • Cryptocurrency symbol  
  • Number of units  
  • Delivering party’s public address for each cryptocurrency 

An example is available below. 

UCP_Crypto_Information

 

 

 

 

Email your list to Arizona’s Client Liaison, Avenu Insights and Analytics at [email protected] and email a copy to Arizona Unclaimed Property at [email protected] and [email protected]. 

You will receive our delivery authorization & digital asset reporting template within 3 - 5 business days of receiving your email. We will tell you to either deliver as requested or provide alternate instructions. 
Do not deliver Digital Assets without authorization.   

After delivering the digital assets, you must provide evidence of the digital asset being transferred into Arizona’s ownership. Email the previous list again, updated with hash IDs, the State Client Liaison, Avenu Insights and Analytics, at [email protected] and email a copy to Arizona Unclaimed Property at [email protected] and [email protected]. Your report is not complete until you provide this evidence. 

 

Digital Assets Type Property Codes 

Arizona is currently using the NAUPA III new cryptocurrency codes below. 
Arizona will respond directly with a digital asset reporting template to be submitted by the Holder. 

VC01 (Virtual Currency in Native Currency Units) = Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. 
VC02 (Virtual Currency Liquidated) = Virtual currency that has been converted or liquidated for cash. Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.
VC03 (Fiat Currency) Cash on account. 

 

Delivery Method

Please contact the State Client Liaison, Avenu Insights and Analytics, at [email protected] and Arizona Unclaimed Property at [email protected] and [email protected] for a list of addresses for each acceptable cryptocurrency.