One of the most foundational elements of any divorce case is the division of marital assets. Traditionally, marital assets included things like real estate properties, bank account balances, retirement funds, and investment income. However, with the advent of digital assets and digital currency, property division during divorce has become much more complicated.
Cryptocurrency, non-fungible tokens (NFTs), and other types of digital assets have an equivalent value in real currency, so they must be properly addressed during divorce, just like any other asset. However, classifying digital assets as marital or non-marital property and determining the value of the assets can be a real challenge.
Determining Ownership of a Digital Asset in a Divorce
Digital assets can be broadly defined as anything that is created and stored digitally and has value. Digital assets may include documents, data, videos, software code, and even social media accounts. Some of the newest types of digital assets include security tokens, crypto assets, NFTs, and cryptocurrencies such as Bitcoin, Ethereum, tether, and USD coin.
...