South Korea Recognises Cryptocurrency As Assets

South Korea’s Supreme Court has recently confiscated 191 Bitcoins from a man who operated on a pornographic site, therefore, recognizing cryptocurrencies as assets, reports South China Morning Post.

This is the first time cryptocurrencies have been confiscated in the country. The court has seized 191 Bitcoins worth approximately $2.3 million, which the man, called Ahn, earned on pornographic sites.

“The cryptocurrency is recognized to have value so it can be confiscated,” the Supreme Court stated.