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IPFS News Link • Bitcoin

Cryptocurrency Holdings Complicate Divorce Proceedings

• bitcoin.com by Samuel Haig

The anonymous nature of cryptocurrencies creates the possibility for spouses to accumulate wealth that is concealed from their partner. However, this often can lead to parties searching for "pots of gold" that don't exist.

Several lawyers specializing in divorce have shared some of the issues that are now arising during the judicial separation process as a consequence of cryptocurrencies.

One of the major challenges posed by cryptocurrencies is the ability for an individual to hide assets from their partner, owing to the anonymizing qualities of cryptocurrency. Toby Yerburgh, the head of family law of Collyer Bristow in the UK, recently told media that "Often in a divorce one spouse is looking for a pot of gold that doesn't exist. But with cryptocurrencies, it's possible the pot does exist."

Mr. Yerburgh attests to having begun to receive cases involving one party suspecting that the other is failing to disclose cryptocurrency holdings following the spike in the popularity of virtual currencies last year.


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