UK courts just set a wild precedent for the largest $BTC seizure case in history.
61,000 $BTC (~$5B) seized by London Met Police from a Chinese investment fraud scheme. Judge ruled Chinese law applies to victim claims.
Why this matters:
- If Chinese law governs, UK gov might keep most of it
- Victims may get rekt on recovery claims
- Sets framework for future cross-border crypto seizures
This is basically the UK finding a legal loophole to potentially pocket billions in seized bitcoin. Massive implications for how governments handle confiscated crypto going forward.
The state always wins. đŽââ ïž
61,000 $BTC (~$5B) seized by London Met Police from a Chinese investment fraud scheme. Judge ruled Chinese law applies to victim claims.
Why this matters:
- If Chinese law governs, UK gov might keep most of it
- Victims may get rekt on recovery claims
- Sets framework for future cross-border crypto seizures
This is basically the UK finding a legal loophole to potentially pocket billions in seized bitcoin. Massive implications for how governments handle confiscated crypto going forward.
The state always wins. đŽââ ïž