So after reading the news story on how police can't open seized BTC wallet with $60M in it I'm thinking what governments are to do about not being able to confiscate BTC.
But the police can ensure that the funds locked within the wallet stays where it is and nobody can get access to it! That's confiscation as well! Yes, government wouldn't be able use that fund! So the goal is anyways reached!
This a serious point of tension between any government and BTC since the govt has to have the right to seize property to protect property. I know many here rightfully don't like govt powers because of corruption but if someone steals BTC or steals something and sells it for BTC, it's imperative for a society to be able to restore the ownership of property.
What do you think will be done about it? Am I missing something?
Topic on the news story:
https://bitcointalk.org/index.php?topic=5315171.0You are right in your comment! We have seen many cases of frauds where bitcoin was involved! And unless and until the key criminal is arrested, it may be very difficult for them to serve justice and restore the ownership of the lost/stolen property! But the case you have sighted is somewhat unrelated because no restoration of ownership is needed as the hacker didn't steal anything but the computing power!