That's a fair take, and yet to acknowledge bitcoin as property means it would fall under the same laws and regulations that currently govern property ownership.

That's a fair take, and yet to acknowledge bitcoin as property means it would fall under the same laws and regulations that currently govern property ownership. Originally, crypto enthusiasts - especially the ones with an anarchist streak - were into the idea that crypto would exist completely outside of government control, i.e. the government wouldn't even recognize it as property. So if thieves trick you into sending coins to the wrong address, tough luck, you should've been more careful. To sue in court over property theft means the government must recognize crypto as property, and as such, crypto is brought into the fold of government oversight.