South Korean prosecutors actively contributed to the confiscation of illegal income bitcoin

South Korean prosecutors actively contributed to the confiscation of illegal income bitcoin

The South Korean government agencies as to whether to confiscate the illegal income bitcoin yields differences. Involved in a 216 bitcoin case, the court ruled that the once digital currency can not be confiscated. But now the prosecutor to the court to request the overthrow of the ruling to allow confiscation of this batch of currently worth billions of won bitcoin.

Prosecutors want to confiscate bitcoin

SBS reports, September Suwon District Court ruled that the confiscation of criminal cases in the bitcoin is not appropriate, the prosecutor in the case, has been to the court to overturn the verdict. Prosecutors believe that all illegal income should be confiscated. reported that the case began in April, web developer complaint cases, the three years in the adult website to spread 235000 illegal pornographic articles.

The 33 year old Ahn to create a website with 1 million 200 thousand adult clients. Prosecutors seized cash 1 billion 460 million won, and stored in the 216 exchange bitcoin wallet. Since Ahn was arrested, the 500 million won coins added to 4 billion 250 million won (about $4 million).

The court has ruled that the confiscation of bitcoin is not appropriate


In the September trial, prosecutors provided a lawsuit against Ahn and their families, to confiscate 1 billion 460 million won in cash and 216 coins.

Suwon district court will Ahn sentenced to six months a year in prison, but the judge decided to confiscate 340 million won in cash, but refused to confiscate these bitcoin. He believes that 340 million won Ahn direct cash is generated from the porn business in profit. As for the digital currency, news reports the judge’s decision.

“Not only is difficult to do, but also confiscated bitcoin is not appropriate, because they do not have the entity, is a form of electronic document, they are not cash”.

The media explained that bitcoin is not suitable for the confiscation of the ruling basis of recessive income regulation (ConcealedRevenueRegulationAct) tenth.

The media continue to call, if prosecutors successfully confiscated bitcoin Ahn, they will be transferred to the Treasury auction, “plan cases of second instance court date is January 8th”.

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