![]() ![]() What you need to know each week: Listen to the This is Money podcast.Of course, your ex-spouse might be willing to take their crypto because they believe it will do well in the future - presumably that is why they bought it in the first place. That said, when it comes to crypto there's no specific court ruling on this yet. You might feel that your ex should bear that loss - but there's a high threshold of 'recklessness' that has to be met for the courts to find that the money 'wasted' should be added back into the pot of assets available to be divided. Depending on how much was bought, this might mean there is less to be divided on divorce following recent falls in value. If your ex bought the crypto, should they suffer the loss after recent falls?Ĭryptocurrencies are incredibly volatile. There are some issues around crypto which have not been tested in the courts yet, but they are still subject to the same principles of divorce law as any other assets, so below we look at some pitfalls. If you or your ex-spouse holds crypto, it can be a shock to see how far it has tumbled, especially if you did not know about, or agree to, family money being used to buy it in the first place. ![]() Jessica Rush is a solicitor at law firm Howard Kennedy.Ĭrypto can be a minefield in a divorce, especially now its value has plummeted. Jessica Rush: Divorces can take months, or even years, and this can be a real problem if the value of cryptocurrency is changing wildly
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