INTEL: Bitcoin recognized as legal property by Thailand’s Supreme Court

Thailand’s Supreme Court has ruled that Bitcoin (BTC) is legal property, applying Sections 137 and 138 of the country’s Civil and Commercial Code, according to a summary of the judgment shared on X by Pete Rizzo. The ruling treats BTC as an asset under criminal law.

As relayed in that summary, the court described Bitcoin as a unit of electronic data under the 2018 Digital Asset Business Act. It said the data exists on a network and is used as a medium of exchange.

The court also pointed to three features of the asset. Bitcoin has market value, it can be exchanged for cash, and individuals can actually hold and transfer it. Because it has economic value and can be possessed, the court concluded, it counts as an asset under the criminal code.

The summary does not say which case produced the ruling, who the parties were or when the decision was handed down. The account comes second-hand from the X post, and the text of the judgment has not been seen. This story is developing and will need updating once the court’s own record or further reporting is available.