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How to tell if your spouse has cryptocurrency as you divorce

On Behalf of | Aug 9, 2021 | Property Division |

A recent CNBC article indicates that around 20 million people own as much as $2 trillion in cryptocurrency in the United States right now. 

Most people who own this digital currency invested in it partly because cryptocurrencies have gone largely unregulated for the past decade or more since they first came onto the scene. This is one of the reasons why you may find it challenging to track down these assets if your spouse purchased them during your marriage. 

How can you track down your spouse’s cryptocurrency?

You’ll need to put on your detective’s hat when trying to determine if your spouse has cryptocurrency. You may want to start by thinking back over the past few years to see if any memory of them speaking about buying this digital currency stands out. You may also want to see if that purchase coincided with them making a large withdrawal from a joint bank account. If it does, then there’s a strong likelihood that your spouse might have acquired some cryptocurrency.

Think about some of your spouse’s recent purchases, too. Have they recently purchased expensive items such as a car, technological devices, a car or an investment home? If so, they might have sold off some cryptocurrency that they purchased some time ago for cash. This might have enabled them to make these big purchases. 

Any instance in which you remember your spouse acting particularly suspicious or secretive may also warrant you considering whether they might have invested in cryptocurrency. This is particularly the case if they’ve claimed that urgent, high-ticket expenses have emerged. 

Property division discussions can be challenging to have when both parties aren’t being forthright about what they have. It’s unlawful for spouses not to disclose assets when asked to do so. You’ll want to bring any such concerns to the court’s attention to ensure that you get your fair share as you look to settle your divorce.