Crypto ‘Cleansing’ Ignites Debate Over What Bitcoin Is All About

If your digital currency is sitting on an exchange, is it really yours?

That debate, which hits on themes central to the founding principles of Bitcoin, has been reignited after the collapse of Voyager, a crypto platform that filed for bankruptcy last week.

After a turbulent stretch for the broader crypto world, news that Voyager investors might lose their assets has further rattled the industry. As fearful investors pull back from crypto exchanges, some are falling back on one of the industry’s original mantras: “Not Your Keys, Not Your Coins.”

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Despite the nostalgia around the ...