Thailand’s Supreme Court Recognizes Bitcoin as Property in Criminal Case

Thailand’s Supreme Court ruled that Bitcoin can qualify as property in a criminal case involving $50,000 converted into the cryptocurrency and transferred to a criminal group.

The case centered on whether electronically held Bitcoin could be an object of a property crime. The victim exchanged $50,000 for Bitcoin before sending it to the group.

In case No. 4929/2569, the court’s full bench said Bitcoin has market value, can be bought and sold, and can be exchanged for cash when a buyer is available. People can also hold and control it. The court concluded that these qualities meant the transferred Bitcoin was not valueless electronic data and could be property targeted in a crime.

The ruling recognizes Bitcoin as property that may be protected from criminal acts. It does not recognize Bitcoin as having the baht’s legal payment status.