Thailand legally recognizes Bitcoin as property in theft case
Thailand’s Supreme Court has ruled that Bitcoin can be considered property under criminal law, after a tourist was forced to transfer 2.480801 BTC, worth approximately $50,000, to a wallet controlled by the perpetrators in 2022.
The court rejected the defense’s argument that Bitcoin is not property because it is an intangible digital asset, affirming that it has market value and can be owned and exchanged for cash.
It also upheld a 10-year prison sentence and ordered the perpetrators to return the stolen Bitcoin or compensate the victim.
The ruling strengthens legal protections for digital assets and confirms that cryptocurrency theft can carry criminal penalties, even though these currencies are not official legal tender. However, the decision does not mean that Bitcoin has been adopted as legal tender in Thailand; it recognizes it as property in the context of this case.
Thailand’s Supreme Court has ruled that Bitcoin can be considered property under criminal law, after a tourist was forced to transfer 2.480801 BTC, worth approximately $50,000, to a wallet controlled by the perpetrators in 2022.
The court rejected the defense’s argument that Bitcoin is not property because it is an intangible digital asset, affirming that it has market value and can be owned and exchanged for cash.
It also upheld a 10-year prison sentence and ordered the perpetrators to return the stolen Bitcoin or compensate the victim.
The ruling strengthens legal protections for digital assets and confirms that cryptocurrency theft can carry criminal penalties, even though these currencies are not official legal tender. However, the decision does not mean that Bitcoin has been adopted as legal tender in Thailand; it recognizes it as property in the context of this case.
