A Tianjin court in China accepted prosecutors' application to confiscate over 61,000 Bitcoin seized by British authorities, linked to Zhimin Qian's illegal investment schemes. The court's acceptance does not yet confiscate or transfer the coins but adds to ongoing legal disputes about ownership between Chinese investors and British courts. The UK High Court ruled that Chinese law determines property rights in the Bitcoin, while English law governs the recovery process. Neither court has finalized ownership or distribution, and the case highlights complex cross-border legal challenges in recovering digital assets.
The Tianjin court's Bitcoin confiscation case offers context for cryptocurrency markets. For readers following crypto, here is Pluang's market snapshot as of Oct 21, 2026 02:31 WIB: 44 of 50 major cryptocurrencies rose today. THETA rose 10.25% to Rp3.700 with 100% sell order activity, BAT increased 10.08% to Rp3.648 with 84% sell orders, and EOS gained 8.13% to Rp12.649 with a typical hold time of 87 days.
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