UK court to apply Chinese law to dispute over 61,000 BTC
- —UK police control more than 61,000 BTC worth roughly $5 billion
- —Judge Mark Turner said the fraud scheme and losses were tied to China
- —Victims of Zhimin Qian's pyramid scheme number over 128,000, with 16,000 in the UK case
- —Fieldfisher intends to appeal; the case will stay in London
Why it matters: The outcome will decide whether victims are compensated or the bitcoin stays with the state, setting a precedent for confiscated crypto cases.
Source: ForkLog