Divorce is never pleasant and is rarely straightforward, but when the husband owns cryptocurrencies the situation becomes significantly more complex. Although digital currencies have surged in popularity, there have been relatively few divorce cases so far that involve disputes over altcoin holdings. A UK law firm says it is currently handling three such cases, the largest involving cryptocurrencies valued at $840,000.

Headline-making news

It was only a matter of time before a divorce centered on the division of high-value virtual currencies made headlines. In this instance, the United Kingdom is the first country to see such a case emerge. The law firm Royds Withy King has brought the matter to national attention. In a press release, the firm stated: “Royds Withy King is currently handling three divorce cases involving digital currencies.”

Below is a video explaining these developments in English:

https://www.youtube.com/watch?v=o0we39fhJ4o

The case that has drawn particular attention within the crypto community involves an initial investment of £80,000 in November 2016 that was valued at £1 million in December 2017 and is now worth approximately £600,000, or $840,000.

Does an equal split still apply?

Even if a spouse does not seek an equal share of the cryptocurrency holdings, they may still secure a substantial portion for a variety of reasons. As Vandana Chitroda, an associate at Royds Withy King, points out, market volatility presents a real challenge when valuing digital currencies. Valuations may need to be conducted multiple times during the divorce process.

If the couple reaches an out-of-court settlement, the husband could end up agreeing to terms during a market downturn. In the coming years, courts are likely to serve as a testing ground for how digital currencies are classified and valued in family law proceedings.