UK Court Ruling Improves Government’s Prospects for Keeping 61,000 Bitcoin

A U.K. High Court ruling has improved the government’s prospects of retaining more than 61,000 Bitcoin (BTC) seized in a Chinese fraud investigation, while leaving final ownership undecided. Justice Mark Turner ruled Oct. 12 that Chinese law governs the property claims brought by victims. The fraud, payments and Bitcoin purchases took place in China, narrowing the legal route for victims seeking to recover the assets in Britain. The seized Bitcoin has been valued at about $5 billion.