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.
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Table of Contents
2. An Introduction to Cryptocurrency a. Introduction b. Types of cryptoassets c. What is cryptocurrency? d. Comparing transaction systems: 'traditional' finance v cryptocurrency e. The legal status of cryptocurrency in the United Kingdom f. Case study: the evolution of Bitcoin 3. Blockchain a. Introduction b. What is blockchain? c. How blockchain works d. The consensus mechanism e. Advantages and disadvantages of blockchain f. Applications of blockchain technology g. Smart contracts h. Non-Fungible Tokens
4. The Cryptocurrency Ecosystem a. Introduction b. Key players and key terms c. Top 10 cryptocurrencies by market capitalisation: Bitcoin, Ethereum, Tether, USD Coin, BNB, Cardano, XRP, Binance USD, Solana, Dogecoin
5. Regulation of cryptocurrency in the United Kingdom a. Introduction b. The FCA regulatory perimeter c. Financial regulation by category: security tokens, e-money tokens, exchange tokens, utility tokens, stablecoins d. AML / CTF financing e. Regulatory developments in the UK
6. Overview of financial remedies in matrimonial finance a. Introduction b. The Court's powers and statutory discretion c. The distributive principles d. Matrimonial and non-matrimonial property e. Special contributions f. Income g. Summary
7. Cryptocurrency as a matrimonial asset a. Are cryptocurrencies 'property' and why does it matter? b. Are cryptocurrencies divisible? c. Disclosure on Form E
8. Practical considerations in litigation a. Introduction b. Identifying and tracing cryptocurrency c. Valuation of cryptocurrency d. Disclosure, freezing orders, and preservation of devices e. Self-help disclosure and associated criminal offences f. Taxation