Thailand’s Supreme Court has ruled that Bitcoin (BTC) is property and that cases involving Bitcoin may constitute property crimes. The ruling was issued in a case brought by a prosecutor in Koh Samui.

In the case, the victim exchanged USD 50,000, equivalent to approximately 1.878 million baht at the exchange rate at the time, for Bitcoin and then transferred it to a group of people. The defendant was identified as “Mr. A”.

The court found that Bitcoin has market value, can be held, and can be exchanged for cash. According to the court, the value of the Bitcoin in this case was no less than the amount used to purchase it.

The ruling also cited the Bank of Thailand’s view that cryptocurrency is not legal tender, but said this is a separate issue from recognizing cryptocurrency as an asset. The court referred to Article 137 of the Civil and Commercial Code, Articles 309 and 340 of the Criminal Code, and other provisions.

Source: https://tintucbitcoin.com/toa-an-toi-cao-thai-lan-bitcoin-la-tai-san-theo-luat-hinh-su/

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