UK ruling complicates China's claim to 61K bitcoin

What happened: A UK High Court ruling addressed claims to 61,000 bitcoin seized by the British government in an investigation. The judgment found Chinese law governs the relevant claims given the fraud's connections to China. Key numbers: 61,000 bitcoin seized; 3.8 billion pounds; 100,000 bitcoin seized by the US from Bitfinex hackers. Why it matters: The ruling complicates China's ability to recover the coins, which could remain UK government property. The speaker notes victims often struggle to get seized bitcoin back, citing the Bitfinex case. Market: -2.1% by next close ($81,646.25 on Oct 14), -8.0% YTD Coverage: 8 outlets in 24h

A UK High Court ruling addressed claims to 61,000 bitcoin seized by the British government in an investigation. The judgment found Chinese law governs the relevant claims given the fraud's connections to China.

The ruling complicates China's ability to recover the coins, which could remain UK government property. The speaker notes victims often struggle to get seized bitcoin back, citing the Bitfinex case. Market: -2.1% by next close ($81,646.25 on Oct 14), -8.0% YTD