Many cases of divorce in Maryland include aspects of asset discovery, asset
valuation, and asset hiding. Now technology makes finding those assets
both easier and more difficult. Bitcoin and other cryptocurrencies have
added an additional layer of potential asset concealment by an unscrupulous
party. Since Bitcoin is not a physical currency and not backed by or attached
to banks or government it is difficult to trace or track both the ownership
and valuation. There is a lack of a paper trail typically used by the
attorney for find hidden assets. Of course, the Maryland law requires
that all parties to a divorce be truthful in revealing assets during the
discovery phase of the divorce. A dishonest or unscrupulous party may
fail to disclose assets which they know are difficult to find and trace.
A specific question in both interrogatories and request for production
of documents should include information regarding any cryptocurrencies.
A forensic accountant familiar with cryptocurrencies should be engaged
in the event you believe asset concealment is a possibility. In Maryland,
a forensic accountant would be considered an expert and be generally permitted
to testify in court if necessary. If you have further questions regarding
this or other family law matters, please call the Law Office of Nicholas
T. Exarhakis for a free telephone consultation.