The mastermind of a 60,000 Bitcoin money laundering case, Qian Zhimin, is today standing trial in London, with Chinese victims providing remote testimony.

BlockBeats News, September 29th, according to Caixin report, the mastermind of a 60,000 Bitcoin money laundering case, Qian Zhimin, will today stand trial at Southwark Crown Court in London. This case will be a landmark example of Sino-British judicial cooperation, cross-border asset recovery, and cryptocurrency asset disposal, with Chinese investigators appearing in court in London and several Chinese victims providing remote video testimony from a court in Tianjin, China. The trial is expected to last for 12 weeks and conclude before Christmas. This case involves issues such as cross-border money laundering, cryptocurrency asset recovery, and is seen as a milestone test of cross-border financial crime regulation and governance in the digital currency era.

Qian Zhimin is accused of illegally raising approximately 43 billion yuan through a Ponzi scheme-like "investment financial management" product operated by Tianjin Tian Rui Electronic Technology Co., Ltd. from 2014 to 2017, affecting 130,000 victims. This case is not only one of the landmark events in China's history of illegal fundraising but also the largest cryptocurrency money laundering case in British judicial history.