âđš MAJOR CRYPTO UPDATE: UK High Court Applies Chinese Law to 61,000 Bitcoin Dispute! đš
âA major legal precedent has just been set in London! The UK High Court ruled that property claims involving the 61,000 seized Bitcoins in the infamous Qian Zhimin / Tianjin Lantian Gerui scheme will be governed by Chinese law, not UK law.
âđĄ Key Highlights:
âđ No Share in Bitcoin Gains? Over 16,000 Chinese victims involved in the UK court recovery process might miss out on Bitcoinâs huge price surge. Under Chinese legal principles, they may strictly be entitled to their original principal investment plus interest.
âđ° Staggering $6 Billion Value: The 61,000 BTC seizedânow valued at over $6 Billionâoriginated from an illegal fundraising scheme that defrauded nearly 128,000 investors in China between 2014 and 2017.
âđïž Judicial Reason: Mr. Justice Turner stated that the fraudulent contracts, financial transfers, and initial crypto purchases had the strongest connection to China.
âđ Important Note: This judgment only resolves the jurisdiction of applicable law. The actual ownership rights and final distribution plan are still pending.
âWill the victims lose out on billions in profit? Let us know your thoughts in the comments! đ
$BTC
, $ETH
, $XRP
#bitcoin #UKCourt #ChinaLaw #CryptoNews #UKHighCourtRulesChineseLawGovernsBitcoinClaims
âA major legal precedent has just been set in London! The UK High Court ruled that property claims involving the 61,000 seized Bitcoins in the infamous Qian Zhimin / Tianjin Lantian Gerui scheme will be governed by Chinese law, not UK law.
âđĄ Key Highlights:
âđ No Share in Bitcoin Gains? Over 16,000 Chinese victims involved in the UK court recovery process might miss out on Bitcoinâs huge price surge. Under Chinese legal principles, they may strictly be entitled to their original principal investment plus interest.
âđ° Staggering $6 Billion Value: The 61,000 BTC seizedânow valued at over $6 Billionâoriginated from an illegal fundraising scheme that defrauded nearly 128,000 investors in China between 2014 and 2017.
âđïž Judicial Reason: Mr. Justice Turner stated that the fraudulent contracts, financial transfers, and initial crypto purchases had the strongest connection to China.
âđ Important Note: This judgment only resolves the jurisdiction of applicable law. The actual ownership rights and final distribution plan are still pending.
âWill the victims lose out on billions in profit? Let us know your thoughts in the comments! đ
$BTC
, $ETH
, $XRP
#bitcoin #UKCourt #ChinaLaw #CryptoNews #UKHighCourtRulesChineseLawGovernsBitcoinClaims