BitCoin, Divorce and Maryland Divorce Law

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.

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