The Hong Kong court defined cryptocurrency as property that can be held in trust in the Gatecoin-related case

ChainCatcher news reports that a report released by the law firm Hogan Lovells shows that the Hong Kong court has defined cryptocurrency as property that "can be held in trust" in the "Gatecoin-related case." Judge Linda Chan, who presided over the case, stated that Hong Kong, like other common law jurisdictions, has a broad definition of "property" with extensive implications.

In 2019, the Hong Kong-based cryptocurrency exchange Gatecoin announced its closure and began liquidation. The report states that the exchange held over HKD 140 million in cryptocurrency as of October 2022. (source link)