NextFin News — The UK High Court has ruled that Chinese investors’ property claims over more than 61,000 Bitcoin linked to the Tianjin Lantian Gerui illegal fundraising case must be determined under Chinese law rather than English law.
The October 12 judgment, reported by Caixin from court documents, means roughly 16,000 Chinese victims participating in the UK recovery proceedings may be limited to recovering their principal and interest, rather than sharing in Bitcoin’s substantial price appreciation since the assets were acquired around 2014. The court has not yet ruled on whether the investors hold proprietary rights under Chinese law.
The Bitcoin formed part of assets seized in the UK in connection with the scheme operated by Qian Zhimin. The decision settles the applicable-law question but leaves ownership and distribution issues for subsequent proceedings.
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