Yes.

If the state does not recognize that Bitcoin is the property, then???
I'm pretty sure that if your Bitcoins are stolen in China, the Chinese authorities will not seek criminal. So it isn't illegal...

Or I invented an even better example:
Drugs are illegal almost everywhere. So if someone steal your drugs, it isn't illegal. Because it will be not punishable by law. Because no one go to the police with a statement: "My drugs are stolen"