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.

G20 Considers Crypto As Assets, Not Currencies, According To Document Draft

A draft of a G20 document -- acquired by Bloomberg -- reads that cryptocurrencies “lack the traits of sovereign currencies,” implying that the G20 considers crypto to be an asset rather than a currency, Bloomberg writes today, March 20.

The issue of how to define cryptocurrencies is expected to be discussed this afternoon, according to Bloomberg.

Ripple hits ₦728 ($2) & Keeps Pushing up in Week-Long Bull Run

Cryptocurrency Ripple (XRP) shot up by almost 35 percent in the last 24 hours, trading at on average ₦728  ($2) and occupying second place by market cap in the total crypto market at press time.

The massive spike comes just over weekly following the coin broke ₦364 ($1) for the very first time last Thursday. The cost then dropped again on Dec. 22, but rallied back up 57 percent exactly the same day and has been carrying out a bullish run since blowing past ₦546 ($1.50) today.