The digital currency, Bitcoin, will be considered like any other asset in divorce proceedings in England and Wales.
According to familylaw.co.uk as Bitcoin, like stocks will fluctuate, the value of Bitcoin to be considered in the proceedings would have to be determined by a judge. This valuation is likely to be made for the point in time either at the date of the petition for divorce or any other date that the judge deems sensible looking at the circumstances of the case.
Familylaw.co.uk further added that courts can factor in the value of the asset, whether by accounting for its value in other property, or ordering a cash payment which could be satisfied by liquidating Bitcoin.
It has been highlighted that although Bitcoin is not linked directly to the identity of the user, courts will require full and frank disclosure of owning Bitcoin.
