#ChinaSeeksToSeize61800BTC
🇨🇳 China Moves to Claim 61,800 BTC Held in the UK
⚖️ Chinese prosecutors want to confiscate 61,800+ BTC tied to Qian Zhimin's alleged 40.38B yuan (~$5.7B) fraud
📅 A Tianjin court accepted the request Sept 28 and announced it Oct 13
⏳ Victims and other parties have 6 months to join the case
👥 The 2014-2017 scheme hit 102,000+ investors, with losses near 20B yuan
🇬🇧 The coins sit with UK authorities after police seized them in 2018
📜 A UK High Court just ruled Chinese law governs victims' ownership claims
📊 At ~$82K, 61,800 BTC is worth about $5.07B
What it means for Bitcoin: accepting the request does not move any coins. The real question is who ends up holding them, and whether any of it is ever sold, a decision that could take years.
Should seized BTC go back to victims, or stay with the state? 👇
$BTC
#CryptoNews #Bitcoin #China #ChinaSeeksToSeize61800BTC
🇨🇳 China Moves to Claim 61,800 BTC Held in the UK
⚖️ Chinese prosecutors want to confiscate 61,800+ BTC tied to Qian Zhimin's alleged 40.38B yuan (~$5.7B) fraud
📅 A Tianjin court accepted the request Sept 28 and announced it Oct 13
⏳ Victims and other parties have 6 months to join the case
👥 The 2014-2017 scheme hit 102,000+ investors, with losses near 20B yuan
🇬🇧 The coins sit with UK authorities after police seized them in 2018
📜 A UK High Court just ruled Chinese law governs victims' ownership claims
📊 At ~$82K, 61,800 BTC is worth about $5.07B
What it means for Bitcoin: accepting the request does not move any coins. The real question is who ends up holding them, and whether any of it is ever sold, a decision that could take years.
Should seized BTC go back to victims, or stay with the state? 👇
$BTC
#CryptoNews #Bitcoin #China #ChinaSeeksToSeize61800BTC