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Crypto Regulation

UK High Court allows Chinese victims to appeal ruling in 60,000-BTC Qian Zhimin case

The UK High Court has granted roughly 16,000 Chinese victims the right to appeal its Oct. 12 ruling that Chinese law governs property rights over more than 60,000 bitcoin tied to the Qian Zhimin case. The court held a fresh hearing four days after that decision, and lawyers also discussed litigation costs from the choice-of-law dispute and whether the individual claimants would continue their pursuit or withdraw.

Original source

AI take

The permission to appeal matters less for the bitcoin than for the choice-of-law question underneath it: which legal system defines property rights over assets held in England but claimed from China. A ruling that Chinese law governs could reshape how cross-border crypto claims are litigated in UK courts, affecting not only these claimants but any offshore holder facing competing domestic judgments. The cost discussion and the possibility of withdrawal hint at fatigue among a dispersed victim group. Whether the appeal proceeds, and on what grounds, is the open question.

Generated by AI for reference only.

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