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sat

The New York court has accepted the case of "Claiming dormant addresses of Satoshi Nakamoto and others for Bitcoin," with a total value of 274 billion dollars

Galaxy stated that in March this year, the New York State Supreme Court quietly accepted a lawsuit aimed at confirming the ownership of over 3.7 million bitcoins (approximately $274 billion) associated with 39,069 bitcoin addresses, including addresses belonging to bitcoin founder Satoshi Nakamoto (a total of 21,744 addresses holding 1.09 million bitcoins, valued at $83.7 billion at current prices).The plaintiffs are Noah Doe (a pseudonym) and two unnamed limited liability companies from Wyoming. Noah Doe requests the New York State Supreme Court to declare their ownership of these dormant addresses through a declaratory judgment action under New York State's lost property law (Section 7-B of the Personal Property Law) as per the New York Civil Practice Law and Rules Section 3001.In short, they are attempting to have the New York court rule that the bitcoins of bitcoin founder Satoshi Nakamoto (and many other lost address bitcoins) belong to lost property, and that they have the right to legally own them because they "found" these cryptocurrencies. From June 30 to July 10, 2025, they sent "abandonment notices" via OP_RETURN to each found address.However, even if they win completely, they will ultimately only receive a court statement; they will not obtain any private keys and will not be able to transfer any bitcoins from these addresses. But Galaxy indicates that the real value of the New York ruling lies in its potential to serve as a "title defect," allowing plaintiff Noah Doe to raise objections with exchanges or custodians if these bitcoins appear in any regulated venue.

The New York court has accepted the case of "Claiming dormant addresses of Satoshi Nakamoto and others for Bitcoin," with a total value of 274 billion dollars

Galaxy stated that in March this year, the New York State Supreme Court quietly accepted a lawsuit aimed at confirming the ownership of over 3.7 million bitcoins (approximately $27.4 billion) associated with 39,069 bitcoin addresses, including addresses belonging to bitcoin founder Satoshi Nakamoto (a total of 21,744 addresses holding 1.09 million bitcoins, valued at $83.7 billion at current prices).The plaintiffs are Noah Doe (a pseudonym) and two unnamed limited liability companies from Wyoming. Noah Doe requests the New York State Supreme Court to declare their ownership of these dormant addresses through a declaratory judgment action under New York State's lost property law (Section 7-B of the Personal Property Law) as per the New York Civil Practice Law and Rules Section 3001.In short, they are trying to have the New York court rule that the bitcoins of bitcoin founder Satoshi Nakamoto (and many other lost address bitcoins) belong to lost property, and they claim the right to legally own them because they "found" these cryptocurrencies. From June 30 to July 10, 2025, they sent "abandonment notices" via OP_RETURN to each found address. However, even if they win completely, they will only receive a court statement; they will not obtain any private keys and will not be able to transfer any bitcoins from these addresses.But Galaxy indicated that the real value of the New York ruling lies in its potential to serve as a "title defect." If these bitcoins appear in any regulated venue, the plaintiff Noah Doe can use this document to raise objections with exchanges or custodians.

The Supreme Court: Will formulate judicial interpretations on civil compensation related to insider trading and market manipulation, and study adjudication rules for new types of cases such as virtual currencies

According to CCTV News, the State Council Information Office held a series of themed press conferences on "Starting the 14th Five-Year Plan," introducing the situation regarding "Promoting Comprehensive Rule of Law." At the press conference, Liu Guixiang, a deputy-level full-time member of the Supreme People's Court Judicial Committee and a second-level chief judge, stated that in-depth research on new case adjudication rules for virtual currencies, cross-border finance, and other new types of cases should be conducted. Judicial interpretations regarding civil compensation related to insider trading and market manipulation should be formulated as soon as possible to ensure the stable operation of the capital market and effectively safeguard the legitimate rights and interests of small and medium-sized investors.In response to the new business formats of the digital economy, normative documents regarding judicial protection of artificial intelligence cases and data ownership should be researched and developed. The adjudication rules concerning data ownership, data transactions, AI generation, and other aspects should be improved to promote the deep integration of digital technology with the real economy, assist in perfecting the foundational institutional system for data elements, and promote the construction of an integrated data market that is open, shared, and secure.
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