Token Daily - Russian Court: Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property

A Russian court turned down a request from a victim of a 100 Bitcoin theft seeking restitution, with the court arguing that cryptocurrencies have no legal status

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Mistbourne Tin | r/pcgaming 81 3 months ago

Interesting. If they had stolen a ring worth one mil would they have had to pay? The guys lawyer might simply have chosen the wrong angle in trying to call BTC a currency.

hashparty Platinum | QC: CC 306, BTC 91, XMR 22 | r/Politics 3 months ago

Government's only function is to protect private property.

BitttBurger Platinum | QC: BCH 1968, BTC 989, CC 245 | BSV 9 | 3 months ago

Bitcoin is literally classified as personal property by the IRS in the USA. Interesting to see that it’s not in Russia.

FluffyGlass Gold | QC: ETH 26, BTC 18 | TraderSubs 17 3 months ago

In Soviet Russia bitcoin owns you!

regalrecaller Bronze | QC: CC 16 | r/Politics 118 3 months ago

/r/nottheonion

JawCrush Tin 3 months ago

This is just so Putin can steal everyone’s crypto and get away with it

Beljora Silver | QC: CC 36 | VET 43 3 months ago

Forgive Russia; they're coming off a Marxist hangover and don't have a good grasp of property

Federal_Pirate Gold | QC: BTC 26 | r/Politics 15 3 months ago

Hold up, does Russia collect capitol gains tax on crypto?

BullionRepublic Redditor for 2 months. 3 months ago

This is surprising. But then again it's Russia.

dkass Bronze | QC: CC 16 3 months ago

Russians with alot of Bitcoin will flee the country taking there money elsewhere and those who can't afford to do that will own guns.

Mordan Gold | QC: BTC 197, XMR 24 | BCH critic | r/Java 1 3 months ago

sadly Russia is going down the path of institutionalized corruption.

The constitution does not mean anything anymore.

They want total control and this story helps paint crypto in a bad light.

understanding_pear Gold | QC: BTC 45 | r/Buttcoin 12 | r/Programming 3 months ago

you are about 20 years late with that observation

CorruptedArc Tin | r/WallStreetBets 94 3 months ago

So if you are a Russian exchange you could just close everyone's accounts and run?

SaneLad Gold | QC: CC 17, BTC 15 | r/WallStreetBets 188 3 months ago

I just had an amazing business idea.

absickb00m Gold | EOS 7 3 months ago

Not your keys not your crypto

Alex_O7 Bronze | EOS 9 3 months ago

Yes for Russian it is OUR Property, there is no individual property 😂

ezrago Tin | 4 months old 3 months ago

In Russia, bitcoin owns you

askdix Tin 3 months ago

Long live God Putin

onebalddude Gold | QC: CC 42 3 months ago

Next weeks headline:

"Russian Judge Kidnapped and Forced to Buy and Send 99.7 BTC to Kidnapper."

TriSamples Gold | QC: BTC 24, CC 17 | r/Politics 21 3 months ago

It's not property, it's a contract. You can still owe 100btc if it's proved you took it. The issue is there's no mechanism to reverse the transaction.

eskaoth Bronze 3 months ago

Who cares about Russia? Fuck them.

buddykire 3 months ago

You are racist towards Russians.

priceybeans Tin 3 months ago

🤣 only in Russia

skadamo80 Gold | QC: BTC 27 3 months ago

Its still early !!

transfer2020dab Redditor for 3 months. 3 months ago

Basado

okean123 Gold | QC: CC 101 3 months ago

Code is law

keaukraine Tin | r/Android 163 3 months ago

/r/anormaldayinrussia

milkonyourmustache 3 months ago

It's going to be open season on cryptocurrency holders in Russia. 8 - 10 years in prison and you get to come home to whatever you managed to steal, in this case 99.7BTC? There will be carnage.

fuzzytradr Platinum | QC: CC 87, XRP 34 3 months ago

In Russia, BTC is mine.

oafsalot Bronze | r/Privacy 36 3 months ago

Yes but they can steal bitcoins belonging to anyone, from anywhere.

ENGALND Bronze 3 months ago

Its easy to hodl when you're in prison too.

fly3rs18 Gold | QC: CC 60 | r/NFL 414 3 months ago

Where do you store your key?

BadBadgerChef Redditor for 6 months. 3 months ago

You get COVID-19 in prison for sure though.

milkonyourmustache 3 months ago

I've heard the soap isn't

onetimeonly1zwo3 Gold | QC: XRP 30, CC 24 3 months ago

Only for Americans. The rest of the world is human.

sktchld 3 months ago

Way to be racist you asshole.

AnomalousAvocado Gold | QC: CC 31 | r/WallStreetBets 65 3 months ago

Americans are a race?

onetimeonly1zwo3 Gold | QC: XRP 30, CC 24 3 months ago

Kek

yoshinosumoto Tin | r/Accounting 10 3 months ago

Stop spreading FUD

Meat__Stick Platinum | QC: KIN 44, CC 35, GPUMining 24 | Minin 3 months ago

SUD*

dontlikecomputers never pay bankers or miners 3 months ago

Technically true as all anyone has is a key, nobody has possession of Bitcoin itself. Theft of a key would be a crime though I suspect.

Heco1331 3 months ago

Are you kidding me? Following that logic nobody owns their own money at their bank account, because all they have is possession of their pin code. Jesus Christ...

jarfil Platinum | QC: BTC 176, BCH 22, CC 20 | r/Linux 29 3 months ago

With fractional reserve and credit as money, it's even funnier than that: not even the bank owns all the money you own on your own bank account, because all they have is a contracted right to write a certain number in a certain ledger at a certain point in time, which usually doesn't match your full balance.