After the police seized 216 bitcoins from a person suspected of illegal activities related to crypto-currencies, the South Korean court ruled that such law enforcement actions are illegal.

The Suwon District Court established a unique, in its way, precedent, ruling that bitcoin and other digital currencies are not subject to confiscation.

Hint Regulators While South Korea is one of the most progressive countries with regard to bitcoin and legalization of crypto-currencies, and their regulation, this step on the part of the court can strike at the positions of regulators both in the country and around the world.

China, for example, demonstrates a diametrically opposite policy with regard to these innovative technologies.

However, such a ruling of the South Korean court can serve as an example for many other countries.

According to the local newspaper Kyunghyang Shinmun, exactly the volatility of bitcoin played a key role in this decision, as confiscation was declared illegal because:.

It is inappropriate to confiscate bitcoins, since they do not have a standard objective value.

In addition, the court also pointed out that bitcoin is a digital currency and does not have a physical carrier, and therefore, in fact, there is nothing that could be confiscated.

The court's decision does not deny that bitcoin has a certain value, however, the inability to determine this suggests that the court may be interested in determining it independently.

Bitcoin and pornography Proceedings, as a result of which the court came to such a decision, concerns a person who provided the activity of an illegal pornographic site. This person did not declare in any way the membership fees that he collected from his users. It is unclear, however, whether he received payment in bitcoins or transferred these funds to the crypto currency later.