The main suspect in the 60,000 Bitcoin money laundering case, Qian Zhimin, is on trial in London, with Chinese victims testifying remotely

ChainCatcher news, the main suspect in the laundering case of 60,000 bitcoins, Qian Zhimin, will stand trial at the Southwark Crown Court in London. This case will become a landmark case for Sino-British judicial cooperation, cross-border asset recovery, and the disposal of cryptocurrency assets. Chinese police officers will travel to London to testify in court, and several Chinese victims will appear remotely via video from a court in Tianjin, China.

The trial is expected to last 12 weeks and will conclude before Christmas. This case involves issues of cross-border money laundering and the recovery of crypto assets, and is seen as a milestone test for the regulation and governance of cross-border financial crimes in the digital currency era. Qian Zhimin is accused of illegally raising approximately 43 billion yuan through Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. by offering Ponzi scheme-like investment products from 2014 to 2017, affecting 130,000 victims. This case is not only one of the landmark events in China's illegal fundraising history but also the largest cryptocurrency money laundering case in British judicial history.