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> cough up the keys or go to jail"

There is literally a meme about this my man. It’s called I lost my wallet in a boating accident lol.

Also, that’s why Bitcoin is different than “crypto”. The first thing you hear when you buy Bitcoin, “not your keys, not your coins”.

The point is not to eradicate the law, the point is to make it difficult to freeze 1000 people accounts than pushing a button. It will make people think about other solutions than stealing people money.

Many of them will if the calculus changes and they think the assets may be seized at any moment. Or, we will see the rise of custodians based in countries that won't respect requests from US et al to freeze accounts.

People mostly don't bother with any of this right now because it hasn't been a real threat.

"I had a boating accident" is a pretty common response.

First of all prove I have crypto