UK Court Ruling Boosts Government Position in $5B Bitcoin Fight

A UK High Court ruling has strengthened the government’s position in the dispute over more than 61,000 Bitcoin seized in the Zhimin Qian case, valued at roughly £3.8 billion, or $5 billion. In the October 12 judgment , Mr Justice Turner ruled that Chinese law, rather than English substantive law, governs victims’ claims to proprietary rights. The decision favors the government’s position on applicable law, but it does not determine who ultimately owns the seized Bitcoin. Questions about the content and effect of Chinese law remain for a later stage.