Published On: Tue, Jun 5th, 2018

South Korean Supreme Court Rules Bitcoin Is an Asset

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South Korea’s Supreme Court just ruled that bitcoin is a legally recognizable asset. The landmark ruling occurred on May 30, 2018, and it overturns a decision made by one of the country’s lower courts in a case dating back to last year.In September 2017, the Suwon District Court charged 33-year-old Ahn with the sale and distribution of child pornography. Operating a website since 2013, Ahn was arrested in May of 2017 for disseminating some 235,000 obscene files. Even though the court handed Ahn a guilty verdict and 18 months in prison for his actions, it did not confiscate the 216 bitcoins Ahn accumulated …

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