Five percent of Americans own cryptocurrencies, the money that is not money, but is an asset that is easy to hide and hard to value. It is the perfect place for a spouse who is “divorce planning” to conceal assets from the other. The first ripples of crypto litigation have reached South Florida, and when it hits divorce courts, it could wreak havoc.
The white paper for Bitcoin was published 11 years ago, but the courts are still grappling with just the concept of cryptocurrency and the blockchain technology upon which it relies. In January 2019, the Florida Third District Court of Appeal released what is thought to be the first appellate decision in the country regarding cryptocurrencies. There are no appellate cases addressing cryptocurrencies in divorce cases, even though such guidance is needed for an asset that shrouded in anonymity and almost impossible to value with precision.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]