⚡️🇺🇸 UPDATE - Eric Peterson: "Since people are still misunderstand what this bill does, here are all the steps for how the bill functions. This should hopefully dispel a lot of the FUD around this legislation."
⚡️🇺🇸 UPDATE - California passes bill allowing the state to seize Bitcoin left idle on exchanges after 3 years under ‘Unclaimed Property’ laws.
Not your keys, not your coins.
https://blossom.primal.net/65391c1c3315e5eed0ea3d1343ae4a68a7b8e945aab070ca1514a8e817401be1.mp4
Discussion
Rule of thumb: if you have to summon a word from old English to explain the theft, maybe you could just not steal people's property.
The state just can’t help themselves from stealing, pathetic.
Budget-neutral reserve for the state? Think banks do this too. Who gets the money if the bank’s customer disappears?
Giving this "clarification" still doesn't change that the state will eventually seize your assets if you didn't use their criteria. I assume the criteria will be loosened in time for the state to seize easier and quicker.
The mental gymnastics & verbiage to still conclude with: the state seizes bitcoin from private citizens. Commiefornia stays on brand