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Court Rules Cryptocurrency is “Property” under Hong Kong Law
Re Gatecoin [2023] HKCFI 914 is the first case in Hong Kong to discuss the proprietary nature of cryptocurrency in detail. The landmark case confirms the nature of cryptocurrency as property which is capable of being held on trust. The clarity regarding the way crypto assets held by companies should be treated should attract capital to the city at a time of global uncertainty and US-China tensions. Case Background Gatecoin Limited (“Gatecoin”) is a company founded in Hong Kong. From aro...
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China Updates
Proposed New Amendments to the China Company Law
On 20 December 2021, the “Company Law of the People’s Republic of China (Draft for Revision) 中华人民共和国公司法(修订草案) (the “Draft”) was submitted to the Standing Committee of the National People’s Congress for deliberation and it was then made available for public comments. Enacted in 1993, China’s current Company Law has gone through many revisions including amendments to several provisions in 1999 and 2004, a comprehensive revision in 2005, and two important ame...
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