Don't panic. The news that “China seized 60,000 BTC” is not the story you think it is.
First, the facts: This is an old case from 2014–2017. Qian Zhimin's company sold unlicensed investment products, defrauding 100,000 investors of more than 40 billion. She fled to the UK in 2017, and the coins were seized by British police. The Tianjin court has now accepted an application for forfeiture, and is giving victims a six-month window to come forward and claim their funds.
There's just one key point: The proceeds of the fraud are being recovered to compensate the victims—not converted into cash by the government and dumped on the market. The market seems to understand this too: after the news circulated for a day, $BTC still didn't even break 80,000.
If you really want to keep an eye on something, watch how the assets are handled after six months—not tonight. I'll be back with updates if there's any progress on this major regulatory news.
#比特币 #Regulation
Not investment advice. DYOR.
First, the facts: This is an old case from 2014–2017. Qian Zhimin's company sold unlicensed investment products, defrauding 100,000 investors of more than 40 billion. She fled to the UK in 2017, and the coins were seized by British police. The Tianjin court has now accepted an application for forfeiture, and is giving victims a six-month window to come forward and claim their funds.
There's just one key point: The proceeds of the fraud are being recovered to compensate the victims—not converted into cash by the government and dumped on the market. The market seems to understand this too: after the news circulated for a day, $BTC still didn't even break 80,000.
If you really want to keep an eye on something, watch how the assets are handled after six months—not tonight. I'll be back with updates if there's any progress on this major regulatory news.
#比特币 #Regulation
Not investment advice. DYOR.