Court in Hong Kong recognized cryptocurrency as property

The Hong Kong High Court included cryptocurrency in the category of property that can be held in trust. This decision could be a precedent for a metropolis that is seeking to create conditions to attract blockchain startups.
The judge ruled in the case related to the collapsed cryptocurrency exchange Gatecoin. Thus, the Hong Kong authorities put the digital currency on a par with other assets, such as stocks and bonds.
A statement from the London law firm Hogan Lovells notes that Judge Linda Chan ruled that digital currency has all the basic characteristics of property.

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