People who are defrauded of their cryptoassets, have them stolen by hackers, or are the victim of more 'traditional' fraud the proceeds of which are then laundered through cryptocurrency exchanges, are less likely to be able to recover their losses if cryptoassets are not considered to be 'property'.
https://www.pinsentmasons.com/out-law/analysis/cryptoasset-fraud-recovery-hinges-on-questions-of-property