Subnostr

Goes beyond that, clawbacks point to the on-ramp itself. You can buy and self-custody as much as you want. That does not legally protect you from clawbacks.

2Pac 2y ago

Wtf does that mean?

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paulo 2y ago

Last item on Sam’s list.

If the exchange/institution goes belly up, creditors of that institution will legally harass anybody who has withdrawn up to 3 months before the institution declaring bankruptcy to clawback those funds to distribute among creditors.

2Pac 2y ago

The rule still applies, if you have the keys they can’t freeze or stop you from using your bitcoin in self custody. They can use the legal system to try to get funds back but YOU would have to voluntarily give them up. They can’t take them.

paulo 2y ago

That’s 100% correct. They can’t take your Bitcoin without your collaboration.

But my point still stands, which is withdrawing within that period guarantees you some legal headaches.

Toshi 2y ago

Thank god I lose my keys regularly on a boating accident. Its like a cleansing retreat once a year