Bitcoin is property but not money in Thailand, Supreme Court rules

Thailand’s Supreme Court has ruled that Bitcoin is property under the country’s criminal law but not legal tender, allowing digital assets to be the subject of property crimes. The ruling stemmed from a September 15, 2022, Koh Samui robbery in which foreigners threatened a victim and his Russian wife and forced him to convert $50,000, or 1.878 million baht, into 2.480801 BTC sent to their wallet. A trial court sentenced the defendant to 15 years, later reduced to 10, and the Supreme Court upheld the sentence and ordered the Bitcoin returned or 1.878 million baht paid instead. The court cited Civil and Commercial Code property provisions and 2018 digital-asset decree; the Bank of Thailand does not consider crypto legal tender.