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RE: Bittrex Responds to the STEEM situation...

in GEMS5 years ago

We need to make Bittrex understand that while generally "code is law" in crypto, when that code violates the law of the land (ie by actually stealing) it is the latter than takes precedence.
Justin Sun is acting as though Steem were a centralised game where the in game currency was completely controlled by the developer and there were numerous T&Cs saying that the in-game currency wasn't an asset and that the developer has complete control and can seize or destroy or do whatever he likes.
In contrast, Steem is a recognised crypto asset and there are no legal T&Cs permitting Sun to seize or transfer funds from one account to another. Thus it is theft under general law and the general law over-rides "code is law"