Thai Supreme Court Rules Bitcoin Qualifies as Property Under the Law

Odaily reports that in a recent criminal case ruling No. 4929/2569, Thailand's Supreme Court determined that Bitcoin has market value, can be held and traded, and can be exchanged for cash when a buyer exists, and therefore qualifies as property under the law. In the case, the victim exchanged $50,000 for Bitcoin and transferred it to a criminal gang. The court held that the Bitcoin involved was not intangible and worthless data, but rather property that can constitute the object of a property crime.

The ruling confirms that Bitcoin can serve as property protected by law and may also be infringed upon by crime, but it did not determine that Bitcoin has the same legal payment status as the Thai baht.