UK High Court Rules Chinese Law Applies to Bitcoin Recovery in Qian Zhimin Case, Victims May Miss Out on Huge Appreciation

PANews October 13 news, according to Caixin, the UK court has made an important ruling regarding the cross-border asset recovery dispute involving more than 61,000 bitcoins in China's Tianjin Lantian Gerui illegal fundraising case. On October 12 local time, Caixin obtained the judgment from the England and Wales High Court, which shows that the High Court held that the property rights claims raised by Chinese investors over the bitcoins involved should be determined according to Chinese law rather than English law. This means that about 16,000 Chinese victims who have participated in the UK recovery proceedings may be unable to share in the huge appreciation gains brought by the surge in Bitcoin prices through English law, and at most can only recover their principal and interest.