The Hong Kong High Court's decision in the Gatecoin case marks the first explicit acknowledgment that cryptocurrency is considered property that can be the subject of a trust within the jurisdiction. This aligns Hong Kong's stance with other common-law countries such as Australia, Canada, England and Wales, New Zealand, Singapore, and the United States. The immediate implication of this ruling is that crypto-assets can be subjected to injunctions in cases of fraud and business disputes, traced for equitable relief, and regarded as property in liquidations.
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