On October 12, High Court Justice Mark Turner ruled that Chinese law - not English law - must govern ownership claims for over 61,000 seized $BTC worth roughly $5 billion. Turner rejected an attempt by Chinese fraud victims to claim the assets using English property and trust principles.
To win, claimants can't just show that the fraud caused them financial loss; they have to prove a specific proprietary interest in the assets. The court hasn't decided who actually gets the Bitcoin yet, as it's still waiting on evidence regarding the relevant Chinese legal rules. According to the Financial Times, the lawyers representing the victims plan to appeal. #BTC Price Analysis# #BTC #Macro Insights# #Bitcoin #BTC Correction Incoming?#
To win, claimants can't just show that the fraud caused them financial loss; they have to prove a specific proprietary interest in the assets. The court hasn't decided who actually gets the Bitcoin yet, as it's still waiting on evidence regarding the relevant Chinese legal rules. According to the Financial Times, the lawyers representing the victims plan to appeal. #BTC Price Analysis# #BTC #Macro Insights# #Bitcoin #BTC Correction Incoming?#