10-year sentence upheld, Thai Supreme Court rules bitcoin is property

This ruling came after a thief contested a conviction.

The court stated that bitcoin possesses a market price.

Furthermore, it noted that this digital asset can be cashed out and held by the general public.

The judicial body subsequently confirmed a 10-year sentence for an individual who assisted the robbers.

Earlier coverage

• 78% chance of December rate hike, Fed hold pressures Bitcoin Oct 29
• Strategy shareholders approve daily dividends for four preferred stocks Oct 28
• $80,000 Bitcoin hovers as Fed decision draws closer on October 27 Oct 28