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⚖️ Shocking: The British Supreme Court decides that Chinese law governs a claim related to 61,000 Bitcoin! 🇬🇧🇨🇳
A historic ruling! 🔥 On October 12, the British Supreme Court ruled that Chinese investors' claims to ownership rights in 61,000 Bitcoin must be decided under Chinese law, not British law, in the Qian Zhimin / Tianjin Lantian Gerui case ⚖️.
💥 Massive repercussions:
About 16,000 Chinese victims who joined asset recovery proceedings in the UK may not receive a share of the huge gains resulting from Bitcoin's rise in value 📈. They may recover no more than their original principal and interest! 😨
💰 The value of the 61,000 confiscated Bitcoin is estimated today at more than $6 billion, and it stems from illegal fundraising that affected 128,000 people in China between 2014 and 2017.
🧑‍⚖️ Judge Turner ruled that the fraud contracts, payments, and Bitcoin purchases are closely connected to China 🇨🇳. This ruling determines only the applicable law; ownership and distributions remain unresolved ⏳.
❓ Will the victims lose billions of dollars in gains? 🤔
$BTC $ETH $XRP
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