1. Parties in family law cases must disclose any virtual currency transactions and list their current virtual currency holdings.
2. Cryptocurrency is a digital asset used for purchases and investments, with Bitcoin being the most common type.
3. Cryptocurrencies are stored on a blockchain and can be used for anonymous transactions without third-party interference.
4. Finding information about a spouse’s cryptocurrency holdings can be difficult as they are not typically held in traditional financial institutions.
5. Attorneys may need to look for signs of digital currency transactions and hire forensic experts to access data from personal devices or computers. – Parties should pay attention to their finances during marriage, especially if one has an interest in cryptocurrencies.
– It is important for the spouse holding cryptocurrency to be honest about their holdings during divorce proceedings.
– Cryptocurrency holdings may need to be divided as marital assets, and their valuation can be challenging due to their volatility.
https://www.henlaw.com/news-insights/cryptocurrencys-impact-on-florida-divorces/
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