Chinese Court Rejects Case, Victims Can’t Recover 61,000 Bitcoin

Chinese victims of an alleged investment fraud have suffered a setback in their attempt to recover 61,000 Bitcoin seized by the UK government. In a ruling handed down by London’s High Court, a judge said the question of whether the claimants hold property rights in the seized cryptocurrency must be assessed under Chinese law , not English law. The decision determines which legal system will govern the ownership analysis, but it does not settle the underlying dispute about who ultimately has enforceable rights to the Bitcoin .