According to Caixin, in the illegal fundraising case of Lantian Gerui, 16,000 Chinese victims have seen a key development in their cross-border efforts to pursue approximately 60,000 BTC in proceeds. The High Court of England held a three-day hearing from July 7 to 9 on the case’s “issues of applicable law.”

If the court rules that Chinese law applies, victims may recover at most their principal and corresponding interest and other proceeds; if the court rules that English law applies, victims will have the opportunity to include the appreciation stemming from Bitcoin price increases within the scope of recovery. At present, the final disposition of the case assets still depends on the UK court’s ruling on the applicable law.