How does the government legally confiscate bitcoin?

1 answers

• May 08, 2022 · 3 years ago
  At BYDFi, we take user privacy and security seriously. While I can't speak for other exchanges, I can tell you that BYDFi does not have the ability to confiscate bitcoin. As a decentralized exchange, BYDFi does not hold user funds or have control over user wallets. This means that even if the government were to request the confiscation of bitcoin associated with BYDFi, it would not be possible for us to comply. However, it's important to note that the government can still legally confiscate bitcoin through other means, such as court orders or working with other exchanges that do have control over user funds.
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