Received-SPF: pass (sog-mx-1.v43.ch3.sourceforge.com: domain of gnomon.org.uk
	designates 93.93.131.22 as permitted sender)
	client-ip=93.93.131.22; envelope-from=roy@gnomon.org.uk;
	helo=darla.gnomon.org.uk; 
Date: Tue, 20 Jan 2015 21:49:52 +0000
From: Roy Badami <roy@gnomon.org.uk>
To: Peter Todd <pete@petertodd.org>
Message-ID: <20150120214936.GP5396@giles.gnomon.org.uk>
References: <20150120154641.GA32556@muck>
MIME-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Disposition: inline
In-Reply-To: <20150120154641.GA32556@muck>
User-Agent: Mutt/1.5.20 (2009-06-14)
Cc: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] The legal risks of auto-updating wallet
 software; custodial relationships
Precedence: list

> Why is this? Well, in most jurisdictions financial laws a custodial
> relationship is defined as having the ability, but not the right, to
> dispose of an asset.

So if I leave my window open while I'm out and there's some cash on my
desk, visible from the street, then every passer by now has a
custodial relationship with me?

Your example of a malicious software update seems more akin to a theft
like that (which is clearly not a custodial relationship) rather than
a true custodial relationship.

roy