A London High Court ruling increases the UK authorities’ chances of keeping a large bitcoin haul seized by the Metropolitan Police, after determining which country’s law governs claims by fraud victims. The seized assets total about 61,000 BTC, described by outlets as worth roughly billions of dollars or pounds at the time of reporting, and are linked to the criminal case of Zhimin Qian.
The judge rules that Chinese law applies to the victims’ attempt to seek compensation, rather than English law. This is a setback for the claimants, who had sought to rely on the UK legal framework to pursue recovery of the bitcoin. Outlets characterize the decision as a key step in the government’s broader effort to maintain control of the assets while the legal process continues.
Across coverage, the focus is consistent on the same court decision and the same seized amount, with reporting differing mainly in the reported value and the emphasis placed on how the ruling affects the victims’ prospects versus the government’s ability to retain the cryptocurrency.
