⚖️ Shocking: UK Supreme Court rules Chinese law governs claim involving 61,000 Bitcoin! 🇬🇧🇨🇳
Landmark ruling! On October 12, the UK Supreme Court ruled that Chinese investors’ claims to ownership rights in 61,000 Bitcoin should be decided under Chinese law, not English law, in the Qian Zhimin / Tianjin Lantian Gerui case.
Major implications:
Around 16,000 Chinese victims who joined the UK recovery proceedings may not receive a share of the huge gains resulting from Bitcoin’s rise in value. They may recover no more than their original amounts and interest! The 61,000 seized Bitcoin are now worth more than $6 billion and came from illegal fundraising that affected 128,000 people in China between 2014 and 2017.
Judge Turner ruled that the fraudulent contracts, payments and Bitcoin purchases were closely connected to China. This ruling determines only which law applies; ownership and distributions remain unresolved.
Will the victims lose out on billions of dollars in gains?
Please follow
$BTC ، $ETH ، $XRP
#ukhighcourtruleschineselawgovernsbitcoinclaim #Bitcoin #UKCourt #ChinaLaw #CryptoNews #ukhighcourtruleschineselawgovernsbitcoinclaims
Landmark ruling! On October 12, the UK Supreme Court ruled that Chinese investors’ claims to ownership rights in 61,000 Bitcoin should be decided under Chinese law, not English law, in the Qian Zhimin / Tianjin Lantian Gerui case.
Major implications:
Around 16,000 Chinese victims who joined the UK recovery proceedings may not receive a share of the huge gains resulting from Bitcoin’s rise in value. They may recover no more than their original amounts and interest! The 61,000 seized Bitcoin are now worth more than $6 billion and came from illegal fundraising that affected 128,000 people in China between 2014 and 2017.
Judge Turner ruled that the fraudulent contracts, payments and Bitcoin purchases were closely connected to China. This ruling determines only which law applies; ownership and distributions remain unresolved.
Will the victims lose out on billions of dollars in gains?
Please follow
$BTC ، $ETH ، $XRP
#ukhighcourtruleschineselawgovernsbitcoinclaim #Bitcoin #UKCourt #ChinaLaw #CryptoNews #ukhighcourtruleschineselawgovernsbitcoinclaims