California just passed a bill to seize #Bitcoin left idle on exchanges. After 3 years of inactivity, assets can be taken by the state under ‘Unclaimed Property’ laws. Bill now heads to the Senate.
Posted by Orangutan
California just passed a bill to seize #Bitcoin left idle on exchanges. After 3 years of inactivity, assets can be taken by the state under ‘Unclaimed Property’ laws. Bill now heads to the Senate.
Posted by Orangutan
4 Comments
The California Assembly passed the Bitcoin payments bill with 68-0 vote. Rarely see this type of policy publicized.
I have investments that I haven’t engaged with for over ten years. Does California believe they’re entitled to my investments due to “inactivity” too?
Just another money grab!
LOL.
**Bitcoin is the people’s liberation!** But you know, the government can seize it from you at will with a single keystroke.
Not your keys not your coins. You don’t own any crypto you’ve left on an exchange. This bill is just proof and consequence of that.