Hong Kongs Court of First Instance recently held (in the case of Re Gatecoin (in liquidation) 2023) that cryptocurrency has all the traditional characteristics of a property and is to be properly regarded so.
However, the court did not come to any conclusion on characterising the nature of cryptocurrency; namely, whether its a thing in possession (chattel), in action (rights associated with intangible property), or a new middle category property that is neither of the two.
This article analyses the impact of that decision on the citys insolvency regime.
Q: How are ownership and value of cryptocurrencies determined in insolvency cases?
A: In the context of cryptocurrencies held by an insolvent exchange, ownership can be a complex issue. F…
Read the full article at: https://law.asia/hong-kong-crypto-property-decision/