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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.
Government's only function is to protect private property.
Bitcoin is literally classified as personal property by the IRS in the USA. Interesting to see that it’s not in Russia.
In Soviet Russia bitcoin owns you!
Forgive Russia; they're coming off a Marxist hangover and don't have a good grasp of property
Hold up, does Russia collect capitol gains tax on crypto?
This is surprising. But then again it's Russia.
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.
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.
So if you are a Russian exchange you could just close everyone's accounts and run?
Yes for Russian it is OUR Property, there is no individual property 😂
Next weeks headline:
"Russian Judge Kidnapped and Forced to Buy and Send 99.7 BTC to Kidnapper."
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.
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.
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.
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