California just passed a bill to seize #Bitcoin left idle on exchanges. After 3 years of inactivity, assets can be taken by the state under 'Unclaimed Property' laws. Bill now heads to the Senate.

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WTF!? Give me a better ad for self-custody...

This is good. It will encourage people to take their coins off exchanges.

What does "inactivity" with respect to an exchange even mean?

Of course they are. As a CA resident...fuckkkk this.

wut

This is bullshit. No death certificate, no beneficiaries then maybe, but just inactivity? Illegal seizure. Forcing someone to create taxable events to prove liveness is no different than theft.

Zero NO votes 🤯

Yeah, it’s JUST LIKE all that money you have in the bank and you’re not using it.. totally makes sense to for the government to take it from you.