South Korean Court Recognizes Bitcoin as a Valuable Asset The South Korean Supreme Court on Wednesday upheld a lower court's decision to confiscate cryptocurrencies from a person involved in a sexual cybercrime case. The news agency Yonhap writes about this.

South Korean court recognizes bitcoin as valuable asset

The South Korean Supreme Court on Wednesday upheld a lower court's decision to confiscate cryptocurrencies from a person involved in a sexual cybercrime case. Writes about this news agency Yonhap.

The Supreme Court upheld an appeals court ruling that sentenced the operator of a child pornography website to 18 months in prison and ordered the seizure of 191 bitcoins in addition to a 696 million won ($ 644,000) fine.

The charges against the 33-year-old defendant in the case were filed in May 2014. The lower court refused to satisfy the claim for the recovery of bitcoins, stating that the cryptocurrency exists in electronic form and has no material form.

The Supreme Court overturned this decision, motivating its step by the fact that cryptocurrency can be considered as "income from the sale of goods".

Earlier, the Russian Court of Appeal allowed the inclusion of cryptocurrency in the bankruptcy estate of an individual declared bankrupt, thus indirectly agreeing to qualify it as property.

Similar articles

• Huobi's European Customers Will Be able to Buy Bitcoin Directly from Visa and Mastercard The cryptocurrency exchange Huobi today announced the addition of the ability to directly purchase cryptocurrencies such as Bitcoin using Visa and Mastercard. Previously, to carry out such operations, users were redirected to the interfaces of third-party services.

  Huobi's European customers will be able to buy bitcoin directly from Visa and Mastercard Cryptocurrency exchange Huobi today announced that it has added an opportunity...

• Twitter will ban advertising of cryptocurrency projects Following Google and Facebook, which announced a ban on advertising of cryptocurrency projects in their services, Twitter made a similar decision. Writes about this SkyNews.

  Twitter will ban advertising of cryptocurrency projects Following Google and Facebook, which announced the ban on advertising of cryptocurrency projects in their services,...

• Stephen Wozniak co-founded a blockchain project Apple co-founder Stephen Wozniak spearheaded a new blockchain project.

  Stephen Wozniak co-founded a blockchain project Apple co-founder Stephen Wozniak is at the forefront of a new blockchain project. how...