Could also be a win waiting to happen, if they lose. Legal precedent, a step closer to a legally enshrined version of "not your keys not your coins"
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Don't know enough about this particular law, if there is none contesting the ownership is there anything the courts can do? I guess they could determine it's bullshit, and just toss it out.
That might be the best... I can also imagine this going the other way, requiring KYC and criminalizing privacy