Did you know that many states will seize your crypto if you leave it untouched for too long? It’s called escheat, and the same thing can happen to bank account balances and unspent gift card balances left untouched long enough to be considered abandoned. It’s not exactly expropriation, as the states generally hold escheated funds for consumers to claim. But in the case of crypto, states usually sell off the crypto upon receiving it and keep the fiat funds for owners to claim. Which means two things. One, you lose any potential upside as the price of cryptocurrencies rises over time. And two, the sale may trigger a tax liability…
Blockchain and Cryptocurrency: People, Culture and Tech