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Bitcoin As Property: What Perfection Looks Like with Michael Saylor - The Bitcoin LayerThe court therefore concluded that cryptocurrencies were a form of property that could be held on trust. Construction of Terms & Conditions. In a landmark decision, a Hong Kong court has for the first time ruled that cryptocurrency is �property� under Hong Kong law. As a 'property', cryptocurrency is capable of, among other things, being put into a trust or distributed upon winding up and, in an ideal world.