Thailand's Supreme Court has officially ruled Bitcoin as "property" in the legal sense.

BlockBeats news, October 28 — Thailand's Supreme Court recently ruled in a criminal case that Bitcoin has economic value in that it can be held, traded, and exchanged for cash, and can be regarded as "property" in the legal sense.

In a recent case, a victim exchanged $50,000 for Bitcoin and transferred it to a criminal gang. The focus of the dispute was whether Bitcoin, which exists electronically, can be the object of "property infringement" in a criminal offense. Judgment No. 4929/2569, heard by all judges of Thailand's Supreme Court, held that Bitcoin has market value; can be bought and sold, and can be exchanged for cash when there is a buyer; the public can hold and control it; therefore, the Bitcoin transferred by the victim is not "intangible and worthless data," but property that can constitute the object of a property crime.

It should be noted that in this criminal case, the Thai court confirmed that Bitcoin can serve as property protected by law and potentially infringed by crime, rather than confirming that it has legal tender status like the Thai baht.