A South Korean court has ruled that bitcoin has an economic value for the first time. This overturned an earlier court ruling which did not recognize the digital currency. The case involves the confiscation of 191 bitcoins.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies
Bitcoin’s Status Re-Examined
The Suwon District Court in South Korea has, for the first time, recognized that bitcoin has an economic value and can be confiscated, local media reported on Tuesday.
The ruling concerns the case involving Ahn who was arrested in May of last year

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