UK Judge Says Chinese Law Applies to Claims Over £4B Bitcoin Fraud

A UK High Court judge has ruled that Chinese law, not English law, must govern the claims of victims to more than 61,000 BTC recovered from a multibillion-pound fraud. But while the decision settles an important preliminary legal question, it does not determine whether the victims can establish ownership of the cryptocurrency or how much, if anything, they may recover. This case arises from investment scams arranged by Zhimin Qian in China from 2014 until July 2017.