UK Court Rules Chinese Law Governs Victims’ Claims to 61,000 Bitcoin

A UK court ruled that Chinese law governs claims by victims seeking ownership of roughly 61,000 Bitcoin, worth about $5.1 billion, after they lost their bid to rely on English law. The holding remains contested, with the legal question of which jurisdiction's law applies now settled in favor of Chinese law. For traders, the ruling is a procedural step in a long-running dispute over a large BTC stash, but it does not immediately resolve who ultimately controls or may sell those coins.