Thai Supreme Court classifies Bitcoin as property, CoinDesk reports
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
The Thai Supreme Court has classified Bitcoin (BTC) as property while upholding a 10-year prison sentence in a robbery case, according to CoinDesk.
The Thai Supreme Court has issued a ruling classifying Bitcoin (BTC) as property, CoinDesk reported. The court based the classification on findings that the cryptocurrency maintains a market price, can be exchanged for fiat currency, and is held by the public. According to the report, the determination came as the court upheld a 10-year prison sentence for an individual convicted of assisting in a robbery involving BTC.
Key facts
- BTC classified as property
- Thai Supreme Court ruling
- 10-year sentence upheld