When two individuals decide to get divorced in Texas, they may naturally bicker over money. One form of money that may especially cause conflict during divorce in 2019 is cryptocurrency. This is because cryptocurrency has become increasingly popular throughout the United States within the past 24 months.
Bitcoin is around 10 years old. However, it became a mainstream concept in 2017 after its per-coin price increased to $20,000. About 5 percent of Americans carried cryptocurrency last year, but a survey showed that 21 percent of additional people would purchase this virtual currency if given the opportunity to do so.
The challenge with the cryptocurrency field, which is drawing more and more investors, is that it is mostly unregulated. For this reason, more divorcing couples might face conflicts involving cryptocurrency in the coming years, and this may result in longer divorce proceedings. In some situations, people may attempt to conceal their funds using cryptocurrency. Even though this is illegal, some people can get away with it if they understand the world of cryptocurrency more than their spouses do.
Going through divorce in Texas can no doubt be an intimidating process. This is particularly true for couples who have a large number of assets or who have assets that are high in value. Fortunately, though, an attorney can guide divorcing individuals through the financial aspects of their divorce proceedings. An attorney’s aim is to ensure that a divorcing individual’s best interests are protected when it comes to the division of cryptocurrency and other types of assets in the Lone Star State.
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