Digital Chamber Submits Amicus Brief Opposing Ownership Claims of Dormant Bitcoin Addresses
Galaxy Research reports that the U.S. cryptocurrency lobbying group Digital Chamber has submitted a second amicus brief to the New York State Supreme Court, opposing the ownership claims of the plaintiff known as "Noah Doe".
The anonymous plaintiff seeks to have the New York court confirm ownership of 39,069 long-dormant Bitcoin addresses and their assets, arguing that these wallets constitute "abandoned property".
Source: Public Information
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Digital Chamber, as a major U.S. crypto lobbying organization, has previously voiced its support for the industry at regulatory and judicial levels. This submission of an amicus brief continues its stance of protecting Bitcoin property rights and opposing improper confiscation or redistribution, consistent with prior legal actions against government seizures of crypto assets.
On the capital front, if the court supports the plaintiff's claims, it could set a precedent for large-scale reclamation of dormant addresses, threatening the core attribute of Bitcoin that "lost means permanent loss." The lobbying group aims to maintain the rights of holders through legal intervention and prevent similar lawsuits from triggering systemic concerns about the security of existing Bitcoin.
This event is reminiscent of early disputes over the handling of dormant funds after the Mt. Gox bankruptcy or civil forfeiture cases involving Bitcoin wallets by the U.S. government. The current legal framework for crypto assets is in a phase of clarifying property attributes and dormancy rules.
Essentially, this reflects capital concentration under regulatory changes: the judicial definition of "abandoned property" will directly impact the incentives for long-term Bitcoin holding. If deemed reclaimable, it will reconstruct the logic of existing asset distribution, potentially accelerating the flow of funds towards jurisdictions and agreements with clearer legal protections.
ABAB News · Cognitive Law
The decentralized nature of Bitcoin relies on legal confirmation of property permanence.
Dormancy does not equal abandonment; time cannot erase on-chain ownership.
Once judicial precedents are set, the security of existing assets will face systemic risks.