Hong Kong Court Declares Crypto as Property in Case Involving Defunct Gatecoin

Liquidators sought directions from the court on whether the crypto held by Gatecoin should be treated as property held on trust or “if no trust existed, the digital assets should be made available to the general body of creditors,” according to the Hogan Lovells report. The exchange held crypto upwards of 140 million Hong Kong dollars ($17.8 million) in October 2022, the report said.