Cryptocurrency in Matrimonial Finance examines the developing and specialist area of cryptocurrency and blockchain technology in the context of matrimonial finance proceedings in England and Wales. Cryptocurrencies are becoming increasingly mainstream and going forward there will be cases in which issues arise as to how such currencies should be valued or how they should be shared (if a straight division is not possible).
The work is split into two parts, the first half of the book provides a primer on cryptocurrency, blockchain etc, and the latter focuses on the role and impact of that type of asset in matrimonial finance litigation.
The work firstly considers the legal status of cryptocurrencies and the key participants in the cryptocurrency market. It analyses what cryptocurrencies are, how they are held by their owners, and what to do when they are identified in the course of matrimonial finance litigation.
The second part of the work summarises the key principles of English family finance and the operation of the family court. It provides a detailed analysis of cryptocurrencies as a specific type of matrimonial asset, before exploring familiar litigation scenarios such as applications for freezing and disclosure orders. It also addresses the valuation of crypto-assets and the instruction of forensic experts for tracing/asset recovery, as well as Anti-Money Laundering considerations for practitioners.
Read an extract of Bloomsbury Professional Law Insight - Cryptocurrency in Matrimonial Finance
Table of Contents
1. Introduction: cryptocurrencies and challenges for family law Part 1: Cryptocurrencies and Blockchain 2. Blockchain a. What is blockchain? b. How a blockchain works c. The consensus mechanism d. Applications of blockchain technology 3. Cryptocurrency a. Different types of crypto-assets and the relationship to blockchain b. What are cryptocurrencies? c. What is their legal status in UK? 4. The cryptocurrency landscape a. The ecosystem: users, miners, exchanges, platforms, wallet providers (key terms explained) b. The 'Big players' (by market capitalisation, e.g. Bitcoin, Etherium, Ripple, Litecoin etc.) c. Method of ownership of cryptocurrencies (wallets, proving ownership etc.) 5. Regulation of cryptocurrency Part 2: Cryptocurrencies in matrimonial finance cases 6. Financial remedies and the family court: overview a. Powers of the court and statutory framework b. Principles of distribution c. Matrimonial and non-matrimonial property d. Needs and sharing e. Compensation f. Practice and procedure 7. Cryptocurrency as a matrimonial asset a. Are cryptocurrencies 'property'? b. Are cryptocurrencies divisible? c. Can the cryptocurrencies be identified and located? d. (Non)-disclosure on Form E: practical steps 8. Valuation of cryptocurrencies a. Forensic experts -- tracing and valuation 9. Interim relief a. Disclosure and preservation of documents/devices b. Freezing cryptocurrencies 10. Money laundering and terrorism a. Practitioner issues - enhanced due diligence etc