In Thailand, Bitcoin will now be regarded as property under its criminal law. This comes after the country’s Supreme Court issued a ruling to that effect.
The Supreme Court decision affects anyone who holds or trades crypto in Thailand because it makes it clear that digital assets can be the subject of a property crime. The judgment also states clearly that Bitcoin is not legal tender, even though it has intrinsic value that can be bought or sold.
Why the court regarded BTC as property
The Civil and Commercial Code in Thailand accords property rights to intangible things with possessive value. The court relied on Sections 137 and 138 of that Code before qualifying Bitcoin as property.
The court, in delivering the ruling , describes BTC as a market-priced medium of exchange that is convertible to cash once there’s a buyer. The court went on to cite Thailand’s 2018 Emergency Decree on Digital Asset Businesses, which describes crypto as electronic data built on a network to serve as a medium of exchange.
The Bank of Thailand does not regard crypto as legal tender due to its volatile nature. The court also quoted the central bank’s stance when deciding that Bitcoin was not legal tender.
The court separated the two questions: Whether an entity is money you can settle debts with is one matter. Whether it has a price and can be held is another. Bitcoin passed the second test, but not the first.
A $50,000 robbery on Koh Samui
The ruling was as a result of a robbery that occurred four years ago, September 15, 2022, to be precise. The robbery happened on the island of Koh Samui. It involved a group of foreigners who threatened a victim and his Russian wife over their child’s safety before becoming violent.
Under duress, the victim converted $50,000 or 1.878 million baht into 2.480801 BTC and sent it to a wallet controlled by the robbers. The defendant sorted out transport, lodging and the group’s ferry escape.
A trial court initially sentenced the robber to 15 years in jail, before cutting it down to 10 years. On appeal, the sentence was upheld, and the Supreme Court concurred that the transfer was done coercively rather than voluntarily. The judges ordered the stolen Bitcoin returned or 1.878 million baht paid in its place.
Property yes, payment no
The ruling is no surprise to anyone who has studied Thailand’s handling of cryptocurrency. The country welcomes its use as an investment but frowns at its use for expenditures, especially for locals.
On March 18, 2022, the Securities and Exchange Commission announced a ban on the use of cryptocurrencies as legal tender. Operators were to be fined up to 300,000 baht plus 10,000 baht for each day they violated the order.
However, Thailand has welcomed the use of crypto for investment purposes. Capital gains tax on crypto sales via licensed platforms was removed from January 2025 to December 2029.
The SEC also launched TouristDigiPay in August 2025. The initiative is an 18-month sandbox that allows tourists to convert digital assets to baht for expenditures while touring Thailand. The merchants will be paid in baht, and crypto will not be used directly as a medium of exchange.
Thailand recently announced that BTC and Ethereum exchange-traded funds (ETFs) could be listed on the Stock Exchange of Thailand. The announcement took effect on October 16, 2026.
The smartest crypto minds already read our newsletter. Want in? Join them .
