#ukhighcourtruleschineselawgovernsbitcoinclaims
The UK High Court ruled that Chinese law will decide who owns over 61,000 seized Bitcoins worth nearly $5 billion. UK police seized the crypto from a massive Chinese fraud scheme.
Thousands of Chinese victims hoped to claim these Bitcoins under UK law. However, the court said Chinese law applies because the original money loss happened in China. This ruling could limit victims to getting back only their original money without profit gains. Final ownership will be decided in later court hearings.
$BTC $KORU $ETH
The UK High Court ruled that Chinese law will decide who owns over 61,000 seized Bitcoins worth nearly $5 billion. UK police seized the crypto from a massive Chinese fraud scheme.
Thousands of Chinese victims hoped to claim these Bitcoins under UK law. However, the court said Chinese law applies because the original money loss happened in China. This ruling could limit victims to getting back only their original money without profit gains. Final ownership will be decided in later court hearings.
$BTC $KORU $ETH