In the tumultuous crypto arena, bitcoin reigns supreme. However, his omnipresence begins to reveal itself in an unsuspected light: he becomes a key player in divorce cases. And the consequences of this intrusion into the matrimonial sphere raise new legal and ethical questions.
Divorce proceedings, biased by the concealment of bitcoins?
This is a new trend in the United States. Bitcoin (BTC) has become one of the biggest stakes in divorce proceedings. The situation suggests two complementary remarks.
The first is that in these procedures, which generally involve an asset balance sheet, digital assets are rarely taken into account. Consequences: assets, such as bitcoin which is worth a lot, are rarely integrated into goods to be shared.
This brings us to the second remark which is that many spouses, often women, find themselves cheated. In particular, when once the procedure is completed, they discover the existence of assets literally worth gold. This is what Sarita (not her real name) went through.
Indeed, surprise was this New Yorker, discovering in the middle of a divorce, that her husband held 12 bitcoins. A total worth at current price around $330,000. A small fortune that would have been worth its weight in gold in the procedure. And this case is probably not isolated.
Another crypto regulatory issue?
This is a social fact that the law does not understand much in the current circumstances. This is particularly what explained Kelly Burris, a lawyer specializing in divorces. According to him, these situations pose a problem: that of monitoring a partner’s digital assets.
The difficulty is further complicated when divorce proceedings are initiated. Because the very nature of the blockchain makes hiding these assets outrageously easy and efficient.
“The problem with cryptos is that they are not regulated by a centralized bank, so it is usually not possible to subpoena someone to obtain documents and information about their crypto holdings »explains Burris.
In conclusion, cryptos are so effective that they allow you to protect your assets by potentially harming your spouse. This is a whole whole area that crypto regulation has to deal with. it’s not for tomorrow.
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