The judges are actually right. Its like giving someont something to hold and its clear your are not selling it , neither are you using it to borrow a comodity or something in return, it doesn't become the person's own automatically, its still your private property, its just not under your custody.
Crypto been seen as a property is a step in the right direction for both crypto and the technology as its global users needs to understand the meaning of this judgement to their involvement in the crypto space
Exactly my point. Sure, bad luck if some faux exchange runs off with your crypto and good luck trying to get it back. That counts for every asset you own, though, be it crypto or fiat or other goods. Some people on the boards act as if crypto is a whole new dimension of property. It's not. The same (basic libertarian) rules of property apply.
And indeed, the same warning signs to be careful about whom you trust with your property apply. So indeed, "not your keys etc." counts as a very important real-life warning, but it's nonsense from a legal point of view.
And btw, here's another update on Cryptopia.
https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-20-february-2024/Is it me, or is this process taking a horribly long time before everything is distributed and liquidated? As a comparison, the whole BlockFI liquidation is almost over in about less than a year. Not sure why Cryptopia is taking so much longer. I guess the lack of KYC wasn't exactly accelerating the whole procedure either...
Too bad for the victims that prices are getting close to record highs again, only shortly after all crypto from the liquidations has been converted to fiat, at very low values...
