Maybe I can clear this up. I haven't re-listened before posting, but I think the OP might be misconstruing some stuff BM mentioned in the Mumble session about the use of intermediaries providing services in the future to help people manage BTS and BitAsset accounts once BitShares is more widespread (i.e. companies that might operate atop of the BitShares blockchain. Like BitPay for BTC for instance). I'm paraphrasing but what I got from him was this (correct me if I'm wrong BM): He said that most people, if BitShares reached mass adoption, will choose to use one of these intermediaries/companies as a matter of convenience (security, backups etc etc) and that those intermediaries will be required to 'Know Their Customers' and comply with local laws and regulations of the country in which they are based.
If you use one of these intermediaries then you potentially open your BTS balances to being seized and reallocated by the govt or state in which the intermediary is based. This sounds a bit scary, but in practice this is no different to the powers that governments already have with money held by your bank today. If the average person really thought it was a large enough threat that the government was going to unfairly steal from them then we'd already see widespread runs on banks and lots of mattresses stuffed with cash. In some parts of the world perhaps that is a real concern where distrust of the state is high enough. For most, convenience will trump the hassle of going it alone with your own cold storage wallet and and learning the associated skills required to manage one. This is how things have to play out if we are to attain widespread adoption.
So really the point BM was making is that BitShares allows you to choose. BitShares does not preclude you from going it alone and avoiding intermediaries entirely if you want to. If you go down that route then you make it more difficult for centralized regulation/laws to 'seize' your BTS but in my view you probably open yourself up to other more real risks. For most, myself included, the threat from hackers probably registers as a higher threat than government interfering with my legitimately invested money. In my view it'll be good to have the option to use a professionally run intermediary when they become available, even if that means my BTS investments effectively sit under UK law and regulation. YMMV.