Svmuu News: A three-day hearing regarding the Qian Zhimin 60,000-coin case (Bitcoin) was held from July 7 to 9, 2026. Blue Sky Greenergy officially joined the dispute over rights (Bitcoin) through the litigation receiver, transforming the contest (Bitcoin) from a “two-party confrontation” into a “three-party race.”British prosecutors argue that the assets should be confiscated by the state; Chinese victims claim they hold property rights traceable to Bitcoin, which has appreciated significantly in value; and the litigation trustee of Blue Sky Greenergy argues that Bitcoin constitutes substitute assets formed after Qian Zhimin embezzled company funds.The Bitcoin involved in the case were valued at approximately 427,000 yuan per coin in July of this year, representing a 152-fold increase from the cost price of 2,815 yuan at which Qian Zhimin purchased them in 2014.If the applicant successfully asserts its property rights-based interest in the relevant Bitcoin assets, the recoverable amount will not be limited to the loss of the original investment but may also extend to the appreciation gains from Bitcoin.The litigation receiver, acting on behalf of Blue Sky Greenergy, argues that the assets in question at Bitcoin essentially originated from misappropriated corporate assets, and the company has the right to trace them and assert property rights.The Director of Public Prosecutions of the United Kingdom continues to insist that Chinese law should apply, while the lead law firm representing individual victims has put forward four legal arguments: Bitcoin that English law should apply in the United Kingdom; that the investment contract was a scam, and upon its rescission, the beneficial interest reverts to the victims;the tracing mechanisms under Sections 305 and 306 of the Proceeds of Crime Act (POCA) should also apply to the victims; and using a “hybrid framework” to avoid having to choose between Chinese and British law.