Thai Supreme Court rules bitcoin is property after thief challenges conviction

The Supreme Court of Thailand has officially declared Bitcoin as a form of property, a landmark ruling that emerged from an appeal filed by an individual convicted of a bitcoin-related theft. The court justified its decision by highlighting that Bitcoin possesses a verifiable market price, can be readily converted into fiat currency, and is widely held by the public. This legal classification reinforces Bitcoin's standing within the country's legal framework. Consequently, the court affirmed a lower court's judgment, upholding a 10-year prison sentence for a man who was implicated in assisting the perpetrators of the robbery. This ruling sets a significant precedent for how digital assets, specifically Bitcoin, are legally recognized and handled in criminal and civil cases within Thailand, solidifying its status as an asset with tangible value and legal protection.