UK High Court Ruling on 61,000 BTC in the Qian Zhimin Case Is Not Final: Victims' Property Rights Still Subject to Appeal

Odaily News: The UK High Court has ruled that Chinese investors' claims to property rights over Bitcoin in the cross-border asset recovery dispute involving more than 61,000 BTC tied to the Tianjin Lantian Gerui illegal fundraising case should be determined under Chinese law rather than English law.

However, the ruling may still be subject to appeal. Under English civil procedure, the relevant parties may apply for permission to appeal, asking the Court of Appeal to reconsider the High Court's decision on the applicable law. At the end of the judgment, the judge stated that the court will further hear submissions from the parties' lawyers to determine the specific orders needed to give effect to this ruling.

It is understood that this judgment did not directly find that the Chinese victims hold only creditor's rights, nor did it deny the possibility that they may obtain property rights under Chinese law. The judge explicitly pointed out that no evidence on the specific content of Chinese law has been submitted in this case, nor has the specific evidence of each applicant been examined. Whether the victims can prove under Chinese law that they hold property rights over the Bitcoin at issue must still be resolved in subsequent proceedings.