Looks like the State of California is planning a 6102 attack.
Discussion
What’s the news?
Something about a bill for the STATE (of course) to be allowed to seize assets from crypto and bitcoin exchange accounts that have been idle for more than 3 years under abandoned property laws or whatever. I haven't found any primary sources for it yet, just heard on Simply Bitcoin.
How the hell does that make sense? Has the state never seen a savings account?
Well I might be completely wrong about it. What apparently is going on is that usually, under certain circumstances, your property can be considered abandoned, and at such a time, the state would sell it and hold onto the dollars for you to claim of you came back. The new law changes it so that the state keeps the assets as-is with their custodian, waiting for you to claim it. This paves the way for a 6102 attack with a bit of lawfare or a coupe, but is actually a marginal improvement to current laws. I haven't had time to learn more about it yet.
I'll take a look.
However, if you have an active account with a bank, exchange, etc.. it isn't abandoned property.
Items left in a landlords shed is abandoned property, unclaimed tax refunds, stuff like that.
I would be 100% stunned if they somehow carved out Bitcoin in an active exchange account.
Because they would be stealing from the bank/exchange, not the user. It's a liability to the exchange, and they own(in theory) the asset for convert ability when asked. By taking this away, it wouldn't make sense.
Yeah I get you. I think it's probably a lot less severe than it sounded to me but always good to be suspicious of the state. I was only looking at sensationalized entertainment Bitcoin propaganda lol! Nothing concrete.
Something about, that they're going to be able to seize Bitcoin from exchanges, if they haven't been moved for the last three years, or so.
Getting smarter I see. I suspected you were going to do this. Who is developing you?
