The South Korean court has declared that it is not lawful to confiscate the currency


nnnThe South Korean police seized 216 bits of special currency suspected of involvement in illegal digital money activities, but then the South Korean court ruled that the comparison of the special seizure is not lawful. The country’s judiciary believes that Bitcoin should not be a confiscated commodity, which establishes a groundbreaking precedent, creating a new fashion for many other countries and providing a precedent that can be followed. And the volatility of the bitcoin price becomes the most likely interpretation of the court’s move, and it may mean that the court will set certain rules on the digital currency.n
nnTranslation: Clovern
nAfter the South Korean police seized suspected of involvement in illegal digital money activities individual 216 per second currency, and then, the South Korean court to determine the seizure action is not legal.n
nThe South Korean Suwon District Court ruled that Bitcoin and related digital currencies should not be confiscated, creating a groundbreaking precedent for granting the legal status of the detainees.n
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nCommunicate information to regulatory authoritiesn
nWhile South Korea is one of the more progressive countries in terms of Bitcoin and its legalization and regulation, the move by the courts of the country has brought shocks to the country and the global regulators.n
nAt present, there is a striking contrast to the attitude of digital money, and China has recently carried out raid supervision in this area, so that we see the socialist countries on this innovative technology to take a tough stance.n
nHowever, the South Korean judiciary has established a precedent that suggests that Bitcoin should not be a confiscated commodity, which creates a new trend for many other countries to make it possible.n
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n”Can not afford the objective value of the standard”n
nAccording to local media Kyunghyang Shinmun, the volatility of Bitcoin prices seems to be the only merit of treating bitmaps as an offense on this issue because:n
nn”The reason why the practice of confiscating Bitcoin is not appropriate is that they can not afford the objective standard value.”n
nnIn addition, according to the court, it also shows that Bitcoin as a digital currency, does not have any physical representation, so in essence, nothing can be confiscated.n
nThis also seems to indicate that the court considers that the bitcoin is of value, but its value has been changing, which may mean that they will set certain rules about the digital currency.n
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nBitcoin deals with porn sitesn
nThe cause of the case involved an individual who was accused of running a pornographic website. The site has a lot of members, but its operators have never reported possible (and may not) directly royal fees charged in Bitcoels – or will later be converted into digital currency.n

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