Hong Kong Court Declares Crypto Assets Are Property and Can Be Held on Trust

Hong Kong Court Declares Crypto Assets Are Property and Can Be Held on Trust

A Hong Kong court has declared that cryptocurrencies are property and can be held on trust, in a landmark ruling. The decision, made by Madam Justice Linda Chan in Re Gatecoin Limited, found that cryptocurrency inherently has all the attributes of property.

The ruling should give Hong Kong insolvency practitioners greater clarity as to the nature and breadth of a company's digital assets in a winding-up scenario. The confirmation that holdings of cryptocurrencies constitute "property" that is on a par with other intangible assets such as stocks and shares, brings Hong Kong into line with other common law jurisdictions whose courts have already decided the issue.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Policy and Regulation

Related News
'He signs whatever I say': LIBRA token 'facilitator' Hayden Davis claims he paid Argentine Pres. Milei's sister for influence: report 'He signs whatever I say': LIBRA token 'facilitator' Hayden Davis claims he paid Argentine Pres. Milei's sister for influence: report
Argentinian President Javier Milei charged with fraud over $LIBRA token scandal: AP Argentinian President Javier Milei charged with fraud over $LIBRA token scandal: AP
Bitwise files Dogecoin ETF registration, firm confirms Bitwise files Dogecoin ETF registration, firm confirms
Trump-backed World Liberty Financial swaps approximately $90 million worth of stablecoins for ETH, LINK and other tokens Trump-backed World Liberty Financial swaps approximately $90 million worth of stablecoins for ETH, LINK and other tokens
World Liberty Financial sees surge in token sales following Donald and Melania Trump memecoin launches World Liberty Financial sees surge in token sales following Donald and Melania Trump memecoin launches
Latest News More More
2 Days Ago Chinese creditors push back against FTX's motion to forfeit payouts in restricted jurisdictions
5 Days Ago TON Foundation offers path to 10-year UAE 'Golden Visa' for $100k in staked TON, $35k fee; UAE denies eligibility
July 4 Tether plans further Bitcoin mining expansion in South America with Adecoagro tie up
July 3 North Korean hackers use fake Zoom updates to deliver ‘NimDoor’ macOS malware targeting crypto firms
July 3 JPMorgan's blockchain unit tests new carbon credit tokenization application with S&P Global
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open