The UK government holds 61,245 bitcoin seized from devices in London in 2018, worth about $5 billion at Bitcoin prices near $83,000. Mr Justice Mark Turner ruled on October 12 that Chinese, rather than English, law governs Chinese fraud victims' efforts to establish property rights over the assets in civil recovery proceedings against Zhimin Qian. The ruling does not decide who ultimately owns the coins. Claimants must now show that Chinese law recognises their asserted ownership rights and that those rights attach to the specific bitcoin seized in England. Qian's schemes collected roughly RMB 40.2 billion, or about £4.1 billion, through at least 128,409 investment contracts between 2014 and 2017 before some proceeds were converted into bitcoin. Fieldfisher, representing claimants, has indicated it will appeal the choice-of-law ruling.