According to a report by Forbes Magazine in September 2022 there are now more than 20,000 crypto currencies worth a collective $982 billion, and NFT artworks (non-fungible tokens) are changing hands for huge sums. One of the ways in which these assets differ from the other assets which are considered for sharing in a divorce settlement, is that they are much easier to hide.
What are crypto assets?
They are digital assets commonly known as crypto currencies. ‘Crypto’ means hidden, referring to the secure digital way data is held on who owns the asset, and ‘currencies’ reflects that this is a type of digital money.
Some commonly known crypto assets include Bitcoin, Binance, Ethereum and Tether though there are thousands more, with new ones being added regularly.
Crypto assets differ from traditional assets in that…