Direct seizure ala 6102 is not necessary in order to effectively seize or freeze custodial assets. Our government knows the difficulty of getting away with something so brazen today, so instead, they chip away at our property rights a little a time in all sorts of ways. This has already happened in the traditional banking system, because AML laws give wide latitude in terms of interpretation and action. Anything they find "suspicious" is cause for freezing of funds or worse. It's entirely at their discretion. How are Aunt Sally and Uncle Jim going to sue Bank of America and force discovery? Additionally, many jurisdictions are scrambling to enact punishing escheatment laws. Want to simply hold your crypto for 5 years? Oops, belongs to the state of California now. Exchanges and brokerages also already make it extremely difficult to transfer crypto assets to private wallets by forcing enormous amounts of KYC friction (which often plain doesn't work at all) and restricting how much you can move at any time and within what timeframes, which they will claim is for your own "safety." I've spent many weeks waiting for permission to move miniscule amounts, and many hours in customer service calls getting my transfer privileges unfrozen. They don't even need to give you a reason, if you ask them why you can't make transfers or access your accounts. Does that sound like something that happens to things you own? Additionally, there are many temptations to encumber your assets by borrowing against them, which can lock them up indefinitely, or result in liquidation during a flash crash. If you're rich, you needn't worry as much, because you're in the club, and the typical rules don't apply to you, unless you have the wrong politics. But I've personally been threatened and had accounts or activity frozen by one bank and one brokerage for daring to move what is theoretically my own money in perfectly legal ways to perfectly legal places that they just happened not to like. Most of what's needed already exists to keep your money locked up so the state can tax and probate it away to nothing, or simply keep you in the fiat cage. They don't need 6102.
