Bitcoins are one of the most commonly used digital currency. Digital currency is created and stored electronically by way of digital ‘tokens’, there are no physical notes or coins as with traditional currencies. Bitcoins can be ‘mined’ through the bitcoin network or purchased online.
Parties in a family law property settlement have an obligation to provide the other party with details of all assets they own, even if the other party do not know about them. This includes assets that were owned at separation, which may have since been sold or disposed of.
Bitcoins are an asset that should be disclosed during a property settlement.
Failing to provide full and frank disclosure of assets can result in penalties, such as the Court making cost orders against you, dismissing your case or imprisonment for contempt of court.