> Fungibility is whether an asset (ie. individual assets within a particular class of asset) is interchangeable with one another. Of course. This is synonymous

> Fungibility is whether an asset (ie. individual assets within a particular class of asset) is interchangeable with one another. Of course. This is synonymous with my own explanation. However your take is that it means that after you've made it interchangeable, then the bank or exchange somehow automatically gets more rights over it. That just isn't the case. Unless there's an express prior agreement, it's also morally wrong.