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UK Court Holds Hearing on Disposal of 60,000 Bitcoin Assets

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On-chain news emerged as the UK High Court held a procedural hearing on June 5 regarding the disposal of 60,000 Bitcoin linked to the Qian Zhimin case. Approximately 16,000 Chinese victims, represented by multiple UK law firms, are pursuing civil recovery under the Proceeds of Crime Act. Fieldfisher, the lead firm, reported £190,000 in costs. The judge ordered law firms to pay court fees proportionally by June 26. Real-world assets (RWA) developments underscore the growing convergence of legal and crypto frameworks.

According to Caixin, the UK High Court held a procedural hearing on June 5 local time regarding the asset disposition in the Qian Zhimin case. Approximately 16,000 Chinese victims have registered through multiple UK law firms to participate in the civil recovery process under the UK’s Proceeds of Crime Act. This represents less than 13% of the 128,000 victims in the Lan Tian Ge Rui case. The hearing focused on how the various law firms would share common litigation costs, with lead firm Fieldfisher stating that approximately £190,000 in expenses had already been incurred. The judge ruled that each law firm must pay its share of the costs to the court account in proportion to the number of victims it represents, with a deadline of 4:00 PM on June 26.

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