China-U.K. Legal Battle Over $5 Billion in Bitcoin Enters New Phase

(London) — Roughly 16,000 Chinese victims of a massive illegal fundraising scheme have won permission to appeal a ruling that Chinese law governs their claims to more than 60,000 bitcoins seized in the U.K.

The U.K. High Court granted permission Friday, four days after its ruling. 

The outcome could determine whether victims are limited under Chinese law to claims for repayment of their principal and interest or can claim property rights over the bitcoins and their appreciation under U.K. law.