Hong Kong court treats cryptocurrencies as property in Gatecoin case

Law firm Hogan Lovells said the Hong Kong courts in Gatecoin’s case considered cryptocurrencies as property “that can be held on trust.” The judge presiding over the case said Hong Kong, like other common law jurisdictions, has a broad definition of "property". In 2019, Hong Kong-based cryptocurrency exchange Gatecoin announced it would shut down and begin liquidation. The exchange holds more than HK$140 million in cryptocurrencies in October 2022, the report said.