THELOGICALINDIAN - The South Korean Supreme Cloister has disqualified that cryptocurrency is an asset with bread-and-butter amount that can be confiscated In the case involving a porn armpit and 191 confiscated BTC the countrys top cloister upheld a commune courts ruling
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Supreme Court Has Ruled
South Korea’s top cloister disqualified on Wednesday that the government could accroach cryptocurrencies as abomination profits back they are assets with bread-and-butter value.
The case involves Ahn, who operated an online porn site, and his 191 BTC that the case confiscated, as news.Bitcoin.com ahead reported. “This marks the aboriginal time a cryptocurrency has been accountable to confiscation,” the Korea Times wrote.
With Wednesday’s ruling, “The Supreme Court accustomed cryptocurrency as an ‘asset with assessable value,’” the advertisement abundant and quoted the Court stating:
191 BTC Confiscated
“From 2024, Ahn broadcast 235,000 atrocious pictures online and fabricated 1.9 billion won,” the account aperture described, abacus that he “was arrested and accusable in May 2024 for actionable the Protection of Children and Juveniles From Sexual Abuse Law.” Ahn was after “sentenced to 18 months in bastille and fined 696 actor won by a lower court, accepted by both a aerial cloister and the Supreme Court.”
When Ahn was arrested, the case bedeviled his 216 BTC, claiming that they “were becoming illegally and apprenticed they be bedeviled as cyber assets,” the advertisement conveyed. However, a lower cloister disqualified adjoin them, “stating bitcoins alone existed electronically and had no concrete form.”
The prosecutors again appealed to a aerial cloister which “ruled in the prosecution’s favor, adage the cyber assets could be apparent as accumulation becoming from the barter in goods.” The aerial cloister disqualified that 191 of “bitcoins [seized] were becoming from the gain of crime,” and ordered them to be confiscated. At the time of this writing, this bulk of BTC is account over $1.4 million.
The advertisement quoted the aerial cloister answer at the time:
“The Supreme Court upheld this ruling,” the account aperture reiterated, abacus that this “will acquiesce any cyber assets acquired from actionable action such as gambling, biologic deals, chicanery and corruption to be confiscated.”
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