The south Korean authorities are divided on the question of whether the Bitcoins from the searches shall be confiscated, or not. In a criminal case involving 216 Bitcoins, a court in south korea has previously ruled that crypto-currencies may not be confiscated. However, the prosecutor is now appealing to the court to reverse this decision and allow the seizure of the Bitcoins.
The status of Bitcoins is still divided as much
Following the decision made in September by the district court in Suwon, according to which the confiscation of Bitcoins in a criminal case was improper, the prosecutor asked the court to overturn the decision. The prosecutor believes, now, that all criminal proceeds should be confiscated. In this case, the judge decided not to enter that 340 million won on the 1,46 billion in cash and threw the Bitcoins confiscated. At the time, he said : “Not only is it difficult to do, but it is not appropriate to confiscate Bitcoins because they are in the form of electronic files, that is to say without physical entities, in contrast to the species. “If the prosecutor finally managed to keep the Bitcoins seized, they will be transferred to the treasury of the State and will be auctioned.
A shift motivated by the rise of the value of the Bitcoin
It is important to remember the merits of this case. Last April, Ahn, a 33 year old man, has been indicted for allegedly having published more than 200 000 illegal pornography on Web sites for adults over a period of three years. The attorney grabbed the money in cash to the tune of 1.46 billion wons and 216 Bitcoins held in a digital wallet. The main reason that motivated the prosecutor is that since the arrest of Ahn, the 500 million won of Bitcoins are processed in the 4.25 trillion won, approximately $ 4 million.
Source : News.bitcoin.com