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ARTICLE · 22 MAY 2023

Handling Cryptocurrencies In Hong Kong Divorce Proceedings

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An important decision last month from the Court of First Instance, In the Matter of Gatecoin Limited [2023] HKCFI 914, has recently ruled that cryptocurrency is 'property'.

Hong KongTechnology
Samantha Gershon
Samantha Gershon
Philippa Hewitt
Philippa Hewitt
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I suspect my spouse owns cryptocurrency. What does this mean for my divorce?

An important decision last month from the Court of First Instance, In the Matter of Gatecoin Limited [2023] HKCFI 914, has recently ruled that cryptocurrency is 'property'. This case involved a winding up action concerning a Hong Kong company which operated a cryptocurrency exchange platform. One of the questions before the court was whether cryptocurrency is 'property' which is relevant to asset division in divorce proceedings. Despite the recent bad press, it is a fact that cryptocurrency is widely used and can have significant value. This ruling clarifies its status within the law.

The case also includes a useful summary of the main features of cryptocurrency for those who are not familiar. For instance, cryptocurrency can only be transferred from one user to another through a cryptocurrency network, and the transfer can only be initiated and approved by the owner of that

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