My stock broker just decided that I should not be allowed to log into my account without installing their spyware 2FA app. All for my own security, obviously.
I couldn’t contact support, I couldn’t generate any statements, I couldn’t delete my account. I couldn’t do anything. They basically held my money hostage until I comply with their demands.
I don’t own my stocks in my brokerage account. I don’t own my money in my bank account. I do own my cryptocurrency though (or rather I would, if I didn’t lose it all in a boating accident 😉).
P.S. I was able to recover access to my account thanks to having a separate phone, specifically designated to install spyware and other crap. I will be looking into changing my stock broker to a one that tries harder to pretend that I own anything there.
You don’t have a property right to some cryptocurrency. Property rights only apply to scarce / rivalrous physical goods. So you may have a property right to the usb that is used to write to the blockchain. But that’s all.
see https://stephankinsella.com/2021/04/nobody-owns-bitcoin/ for more information.