Recent Thai Supreme Court Recognises Bitcoin as Property under Thai Criminal Law: A Significant Ruling on Cryptocurrency and Robbery

As cryptocurrency becomes increasingly integrated into global financial transactions, questions surrounding its legal status and protection under Thai law are becoming more important. One particularly significant question is whether Bitcoin and other cryptocurrencies constitute “property” capable of being the subject of theft or robbery under the Thai Penal Code (Thai Criminal Code).

In recent 2026 judgement, the Supreme Court of Thailand, sitting in a General Assembly, addressed this issue and confirmed that Bitcoin has economic value and can constitute property for the purposes of criminal offences against property.

The Court held that although cryptocurrency is not legal tender under Thai law, it does not follow that cryptocurrency has no legal value or cannot be treated as property. Where Bitcoin has an ascertainable market value, can be held by individuals and can be exchanged for cash, it may qualify as property under Thai law.

This decision represents an important development in the application of traditional criminal law principles to digital assets and provides greater clarity on the legal protection available to cryptocurrency holders in Thailand.

Background of the Case (Supreme Court Judgment No. 4929/2569)

The case arose from an incident involving a group of foreign nationals who allegedly coerced a Russian victim into transferring Bitcoin worth USD 50,000, equivalent to approximately THB 1,878,000 at the relevant time.

According to the evidence presented before the Court, the defendants and their associates had arranged to meet the victim on Koh Samui, Surat Thani Province. The group approached the victim and his wife at a coffee shop and subsequently threatened them, including making statements that caused the victim’s wife to fear for the safety of their young child.

The victim was physically assaulted, and the group used threats and intimidation to compel him to transfer USD 50,000 worth of funds.

The victim was required to convert the US dollars into Bitcoin through a mobile application before transferring 2.480801 BTC to a cryptocurrency wallet associated with one of the individuals involved.

The prosecution argued that the defendants had jointly committed robbery, using force and threats to obtain the victim’s assets, and sought an order requiring the defendant to return the Bitcoin or its equivalent value of THB 1,878,000.

The Court of First Instance found the defendant guilty of participating in robbery, involving the use of a vehicle to facilitate the offence or escape, as well as other related offences. The defendant was sentenced to imprisonment for 15 years, subsequently reduced to 10 years following a one-third reduction in sentence.

The Court of Appeal for Region 8 affirmed the decision.

The defendant subsequently appealed to the Supreme Court, challenging, among other matters, whether Bitcoin could legally constitute property for the purposes of a criminal offence against property.

The Key Legal Issue: Is Bitcoin Considered Property under Thai Law?

The central legal issue before the Supreme Court was whether Bitcoin or cryptocurrency transferred from the victim’s digital wallet could be regarded as property under Thai criminal law.

The defendant challenged the legal characterisation of the transferred Bitcoin, raising the question of whether cryptocurrency could satisfy the legal elements of an offence involving the taking of another person’s property.

The Supreme Court examined the definition of cryptocurrency under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).

Under this legislation, cryptocurrency is defined as an electronic data unit created on an electronic system or network, intended to be used as a medium of exchange for goods, services or other rights, or for the exchange between digital assets.

The Court also considered information provided by the Bank of Thailand, which explained that cryptocurrency is not recognised as legal tender for the repayment of debts under Thai law and that users may not enjoy the same fundamental protections afforded to users of conventional financial services when problems or fraud arise in cryptocurrency transactions.

However, the Supreme Court did not consider the absence of legal tender status to mean that cryptocurrency had no economic value or could not constitute property.

The Bank of Thailand’s information also acknowledged that cryptocurrency has market value determined by supply and demand, although its price may be highly volatile and influenced by speculation. Bitcoin and other cryptocurrencies can function as a medium of exchange and may be converted into cash where buyers are available.

The Court further noted that Bitcoin can be held by individuals and that its market price can be verified through publicly available cryptocurrency market information.

Having considered these characteristics, the Supreme Court concluded that the Bitcoin transferred by the victim represented an asset with identifiable economic value. The victim had converted USD 50,000, equivalent to approximately THB 1,878,000, into 2.480801 BTC before transferring it to the perpetrators.

The Court reasoned that the victim had not transferred something without value or an intangible item incapable of ownership. Rather, the victim had converted conventional currency into cryptocurrency represented by electronic data on an electronic system or network, which had economic value and could be appropriated.

Accordingly, the transferred Bitcoin constituted property and satisfied the relevant legal elements of an offence against property.

The defendant’s argument was rejected.

Cryptocurrency Does Not Need to Be Legal Tender to Qualify as Property

One of the most important aspects of this judgment is the distinction between legal tender and property under Thai law. These are two different legal concepts.

The fact that Bitcoin is not recognised as legal tender does not automatically mean that it has no legal protection or cannot be the subject of a criminal offence involving property.

The Supreme Court’s reasoning reflects the broader principle that the legal characterisation of an asset should take into account its actual economic characteristics, including whether it has value, can be held by an individual and can be transferred or exchanged.

This approach is particularly relevant to Section 137 of the Thai Civil and Commercial Code, which provides a legal framework for determining what constitutes property under Thai law.

By recognising Bitcoin as property for the purposes of criminal offences against property, the Supreme Court has clarified that digital assets cannot be excluded from the scope of criminal property protection merely because they exist in electronic form rather than as physical objects.

Importantly, the judgment does not mean that cryptocurrency has become legal tender in Thailand. Rather, it recognises that cryptocurrency may have the legal characteristics necessary to qualify as property, even though it is not conventional money.

The Elements of Robbery Through Coercion and Threats

In addition to the legal status of Bitcoin, the Supreme Court considered whether the defendant had participated in the robbery.

Importantly, the Court considered the circumstances surrounding the transfer of Bitcoin. The group had allegedly threatened the victim and his wife, including making statements designed to create fear for the safety of their young child. The victim was also physically assaulted, and the perpetrators forcibly attempted to access information on his mobile phone.

The Court considered these actions to constitute the use of physical force and threats of violence to compel the victim to surrender his assets.

The Court also took into account the group’s subsequent use of vehicles, including a van and motorcycles, to facilitate the offence, transport the stolen assets or facilitate their escape and avoid arrest.

Accordingly, the Supreme Court upheld the lower courts’ findings that the defendant had jointly participated in robbery under Section 340(1) of the Thai Penal Code, together with the relevant provisions concerning the use of a vehicle under Section 340 ter.

The defendant’s appeal was dismissed, and the lower courts’ judgments were affirmed.

Practical Implications for Cryptocurrency Investors and Businesses in Thailand

Supreme Court Judgment No. 4929/2569 has important implications for individuals, investors and businesses involved in cryptocurrency transactions in Thailand.

1. Cryptocurrency Can Receive Protection under Thai Criminal Law

The judgment confirms that Bitcoin may qualify as property for the purposes of criminal offences against property. Individuals who suffer financial losses as a result of robbery involving cryptocurrency may therefore seek protection under the relevant provisions of Thai criminal law.

2. Digital Asset Transactions May Form Part of Criminal Investigations

Cryptocurrency transactions can constitute important evidence in criminal investigations. Transaction records, wallet addresses, blockchain transaction histories and other relevant digital evidence may assist in establishing the movement and transfer of assets.

3. Coerced Cryptocurrency Transfers May Constitute Robbery

Where cryptocurrency is transferred as a result of physical violence or threats, the circumstances may satisfy the elements of robbery under Thai criminal law. The fact that the victim technically initiated the transaction through a mobile application does not necessarily mean that the transfer was voluntary.

4. The Absence of Legal Tender Status Does Not Eliminate Legal Protection

Investors should understand that although cryptocurrency is not legal tender, it may still be recognised as property and receive protection under other areas of Thai law. Its legal treatment depends on the relevant legal context and the specific circumstances of each case.

5. Businesses Should Strengthen Digital Asset Security and Compliance Measures

Businesses dealing with cryptocurrency should maintain appropriate transaction records, wallet security procedures and internal controls. Where suspicious or unauthorised transactions occur, preserving relevant electronic evidence and seeking legal advice promptly may be critical.

How Skyinterlegal Can Assist

As digital assets become increasingly relevant to commercial transactions and investment activities, understanding their legal status and the available remedies under Thai law is essential.

At Skyinterlegal, we advise individuals, investors and businesses on legal matters involving cryptocurrency, digital assets, commercial disputes and criminal liability in Thailand.

Our legal services include:

• Cryptocurrency and Digital Asset Disputes: Advising on legal disputes involving Bitcoin, cryptocurrency transfers and other digital assets.
• Criminal Litigation and Fraud Cases: Assisting clients in matters involving fraud, misappropriation, robbery, coercion and other criminal offences relating to digital assets.
• Asset Tracing and Investigation: Assisting in identifying and investigating the movement of assets, including relevant cryptocurrency transaction information, subject to applicable legal procedures and access rights.
• Civil Claims and Asset Recovery: Advising on potential civil remedies and legal proceedings to recover assets or seek compensation arising from unlawful cryptocurrency transactions.
• Regulatory and Legal Compliance: Advising businesses on the legal framework governing digital assets and cryptocurrency-related activities in Thailand.

Whether you are an individual who has suffered losses involving cryptocurrency, an investor facing a digital asset dispute or a business seeking legal advice on cryptocurrency-related transactions, our team can assist in assessing your legal position and identifying appropriate courses of action under Thai law.

Conclusion

Supreme Court Judgment No. 4929/2569 marks an important development in Thailand’s approach to digital assets and criminal law.

By recognising that Bitcoin has economic value and can constitute property under Thai law, the Supreme Court has clarified that cryptocurrency transactions are not beyond the protection of traditional criminal law merely because the assets exist in electronic form.

The judgment also highlights the importance of distinguishing between the status of an asset as legal tender and its recognition as property capable of being owned, transferred and unlawfully taken.

For cryptocurrency investors, businesses and individuals operating in Thailand, this decision provides an important legal reference when dealing with fraud, coercion, robbery and disputes involving digital assets.

As digital asset-related disputes become increasingly complex, obtaining appropriate legal advice is essential to protecting your assets and enforcing your rights. Skyinterlegal provides legal assistance in cryptocurrency disputes, criminal litigation, asset investigation and asset recovery in Thailand.

To discuss a related legal matter or obtain legal advice, please contact our legal team.