South Korean Top Court Defines Bitcoin as Asset in Landmark Ruling

[kreslik.news]

The South Korean Supreme Court, in a criminal ruling on Wednesday, has recognized cryptocurrency as an asset because of its “measurable value,” as detailed by a report in the Korea Times.

The case involved a person named Ahn, a 33-year old man, who ran a pornographic website and made profits in Bitcoin. He was arrested and indicted in May 2017 for violating the Protection of Children and Juveniles From Sexual Abuse Law.

Help us to make Finance Magnates better!

Ahn was already sentenced to 18 months imprisonment along with a fine of 696 million won ($646,000) by a lower ... (read more)