The UK High Court has ruled that property claims for over 61,000 Bitcoin linked to the Tianjin Lantian Gerui illegal fundraising case must be adjudicated under Chinese law rather than English law. The judgment, issued on October 12, addresses cross-border asset recovery disputes involving cryptocurrencies tied to the scheme orchestrated by Qian Zhimin.
Approximately 16,000 Chinese victims participating in UK recovery proceedings may now be limited to reclaiming only their original principal and interest. Under this ruling, claimants could be excluded from sharing in the substantial appreciation of Bitcoin's value since the assets were seized, as Chinese law governs their proprietary rights instead of English legal frameworks.
UK High Court Rules Chinese Law Applies to 61,000 Bitcoin Recovery in Qian Zhimin Case
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