On April 19, according to a report released by the law firm Hogan Lovells, the Hong Kong District Court of China defined cryptocurrency as property that can be held in trust in a Gatecoin-related case. Earlier, Hong Kong-based cryptocurrency trading platform Gatecoin announced in 2019 that it would close and begin liquidation. In this case, the plaintiff company attempted to recover disputed funds from a former Gatecoin payment service provider.