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The article states that is not how money (unlike other types of property) works: > Banknotes, coins, and other highly-liquid paper instruments have a very spec
by shkkmo 7y ago
The article states that is not how money (unlike other types of property) works:
> Banknotes, coins, and other highly-liquid paper instruments have a very special legal status. If you unknowingly accept some banknotes from someone who just obtained them illegally (say via ransom or theft), the law can't compel you to give those banknotes back to the original victim. Money, as the great British jurist Lord Mansfield once declared, isn't like regular property: it "can not be recovered after it has passed into currency."
So the key questions are if cryptocurrency qualifies legally as currency and if not, what the legal standards are for who ends up the owner of that property when it gets mixed via various means.
- samatman 7y agoThe article may state that, but it's pretty clearly not the case in all jurisdictions: > The penalty for larceny and the crime of receiving and concealing stolen property in Michigan depends upon the value of the substantiated property or money involved. https://www.cyabdolaw.com/larceny-and-receiving-stolen-property.html https://www.cyabdolaw.com/larceny-and-receiving-stolen-prope...
- shkkmo 7y agoWhat part of that actually contradicts the point made by the article? As far as I can tell those laws cover knowing or willfully ignorant facilitatation of laundering stolen money. It says nothing about the need to return stolen money recieved as part of a legitimate seeming transaction.