Since court orders do not have a major impact on cryptocurrencies, many people in divorce proceedings hide some of their savings in cryptocurrencies. It is clearly not the intention to divide the patrimony.
Spouses are the ones who benefit the most from this tactic, according to data from iNews. As an example, the portal cites the divorce of Erica and Francis DeSouza, who earlier this year fought not only for custody of their children and the house, but also for investments in cryptocurrencies.
“Originally the money was under the mattress and then it was a bank account in the Cayman Islands. Now it’s cryptocurrencies”said attorney Jacqueline Newman at the time.
DeSouza reportedly bought $150,000 worth of Bitcoin in 2013, when the cryptocurrency was only worth hundreds of dollars. Already at the date of divorce, his investment was valued at $ 23 million.
Who owns the cryptocurrencies?
Since investments were made during the marriage, it is normal to expect cryptocurrencies to be shared equally. However, such disputes are not exclusive to US tycoons and, as can be seen in the video below, they also affect Brazilians.
“I’m going to split, he bought a lot of cryptocurrencies, he’s going to have to share this with me, right?” ask a woman.
“Well, If These Cryptocurrencies Were Bought During Your Marriage, You Should Share It”replies lawyer Aline Bernardes.
LOL#Bitcoin pic.twitter.com/QAweHJjn4V
— Paradigm Education (@ParadigmaEdu) November 30, 2022
The profile that shared the video laughs, after all, it can be difficult to know the exact amount of the investment, and even more so to seize such cryptocurrencies.
The iNews article recommends that couples analyze banking transactions for brokers, and look for hardware wallets (which look like pen drives) and even a 12-word game that gives access to funds.
“Check the search history [de seu conjugue]looking for cryptocurrency news »completes the article.
Finally, it is also mentioned that a single digital investigative firm has already worked on 150 divorce cases related to cryptocurrencies in the past three years, tracking down more than $10 million in hidden cryptocurrencies in several of these cases.
That’s why lawyers need to update themselves. After all, investments in cryptocurrencies are already a frequent reality, as it is an easier alternative than opening a bank account in the Cayman Islands for those who do not want to share their savings in a divorce.
Source: Live Coins
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
