What if the governments across the world attempted to seize all of your crypto assets like the US seized all gold from their citizens in the 1900s. Now I'm seeing articles talking about how the US government is trying to be able claim private property.
I think that ultimately this would be very challenging for any government to successfully accomplish. This would cause a revolutionary period again in our world I imagine....
In a democracy this can't really happen. If any political party would consider taking away large sums of private money, there would be a huge public outcry and the politicians wouldn't be in power for long. Who would vote for a party that wants to steal your money? And even if the presidents finds a legal loophole to push it through, there would just come to opposition and bring it all back. You can't have policies that affect the majority of a country negatively. In a communist or dictatorship country this might be different, the politicians in power can choose freely and don't worry about what the average person thinks. But even in such a situation the question remains, how will the government manage to get access to all the private wallets. Just by demanding the people to give up their crypto coins, doesn't mean that everybody will so. I would expect for most people to not give up their coins and instead hide them from the government.