According to Decrypt, a UK High Court judge has ruled that Chinese law will apply to claims by individuals seeking recovery of the 61,000 bitcoin seized from Zhimin Qian. The decision comes after legal proceedings regarding the frozen cryptocurrency assets held by UK authorities.
The ruling addresses fraud victims’ attempts to claim portions of the seized Bitcoin. The judge determined that Chinese regulations concerning fraud should be used to evaluate these claims, rather than UK law. This outcome advances the UK government’s position in retaining the assets under current legal determinations.
The 61,000 BTC were taken from Zhimin Qian as part of enforcement actions related to alleged fraudulent activity. The High Court decision specifically concerns how victim claims are assessed, not the ownership status of the Bitcoin itself at this stage. Authorities have previously indicated intent to keep the seized amount pending final resolution of legal matters.
The ruling reflects a judicial determination based on jurisdictional considerations tied to the origin of the alleged fraud. It does not alter administrative controls over the assets or initiate transfer proceedings. Further appeals or clarification from UK courts may follow, but no such steps have been taken yet.
