
UK's conviction of Qian Zhiming for laundering Bitcoin intensifies China’s demand for victim restitution amid cross-border legal and ownership disputes.
UK authorities convicted Qian Zhiming for laundering Bitcoin from China’s Blue Sky Grey fraud, freezing 61,000 BTC valued at roughly 50 billion yuan. The assets, linked to criminal proceeds, are part of a broader dispute as China demands their full return to victims. Jurisdictional, legal, and diplomatic complexities remain, centered on asset ownership and appreciation since the crime.