The Supreme Court of Korea rules that the cryptocurrency is an asset with economic value
The Supreme Court of South Korea has an economic value that can be confiscated. In the case involving the BTC, the country's highest court upheld a short district decision.
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The case involves Ahn who operated an online pornography site, and his 191 BTC That Persecution Seized, as previously reported news.Bitcoin.com. "This marks that the first time it has been subject to confiscation," the Korea Times wrote.
With Wednesday's decision, "the Supreme Court recognized cryptocurrency as an asset with measurable value."
It is recognized that the cryptocurrency has value, so it can be confiscated.
"As of 2013, Ahn distributed 235,000 obscene images online and made 1.9 trillion won," Described press release, adding that "This was arrested and charged in May of 2017 for violation of the protection of children." and young people against the Sexual Abuse Law. " Ahn was subsequently "696 million won by a lower court, confirmed by a higher court and the Supreme Court."
Korea Supreme Court Regulation is the cryptocurrency asset With Economic ValueWhen Ahn has been arrested this, the prosecution seized the 216 BTC, stating that "they were illegally won and urged they should be seized as cybernetic assets," the publication aired. However, a lower court ruled against them, "stating that the bitcoins only existed electronically and had no physical form."
Prosecutors then appealed to a high court that "ruled in favor of the prosecution, saying that cyber resources could be seen as the benefit obtained from the trade of goods." The Supreme Court ruled that 191 of the "bitcoins [seized] were obtained from the proceeds of the crime," and ordered that they be confiscated. At the time of this writing, this amount of BTC is worth more than $ 1.4 million.
If we go back to the bitcoins with Ahn, it will be returned to us that they paid us illegally for having a porn site online.
"The Supreme Court upheld this ruling," the media reiterated, adding that "this will allow any cybernetic assets obtained from illegal activities such as gambling, drug trafficking, prostitution and pornography to be confiscated."
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