Bitcoin: The Weapon of Choice for Divorce
Jane Croft, writing in today's Financial Times points out warnings from lawyers, that Bitcoin is fast becoming the weapon of choice for hiding assets in a divorce battle. Because of Bitcoin's relative anonymity many husbands are choosing to use it as a medium of investment and thereby avoiding a full disclosure of assets. Within the UK, divorce settlements are seen as particularly generous to wives; courts have taken the view that homemakers contributions are equal to those of the breadwinner, therefore, a fifty: fifty split of assets is generally the norm. There is also the problem that....
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Can you really hide assets in a divorce through Bitcoin? CoinTelegraph investigates the feasibility of such a suggestion. Traditional methods of hiding assets. In most cases, assets in divorce are hidden through relatively simple means with varying legality. That includes transferring money from joint accounts to private accounts; transferring assets to a friend prior to the divorce; undervaluing assets; or simply storing assets as cash in a hidden safety deposit box. However, there are other more complex methods including overpaying the IRS, or other relevant tax agency, and then....
While some have compared Bitcoin to a tool of war, it is more like a defensive weapon that protects those who use it from authoritarianism and overreach.
There appears to be a new weapon in the battle for divorce by vindictive estranged partners: bitcoin. Yes, it turns out that bitcoin is causing a bit of a stir in the legal community. In many countries wealth isn’t divided equally based on how much a person earns, but how much is contributed to the marriage. An example of this is a man with a hefty income and a wife who acts as a housewife who raises the kids and does the housework – a feminist’s nightmare, but sadly a situation that is still prevalent in today’s society – will be entitled to equal funds as it’s considered by the judge....
A Texas nonprofit that garnered worldwide media attention for producing the first 3D printed gun -- and raised funds in bitcoins to help pay for the project -- has removed the blueprints for the weapon from its website. Twenty-five-year-old University of Texas law student Cody Wilson runs a company called Defense Distributed, which he calls "Home of the Wiki Weapon Project." Earlier this week, the company posted files with details on how to print a weapon called "the Liberator" at its DEFCAD site. On Thursday, however, those files were "removed from public access at the request of the US....
The Greek government made a stunning move on December 1st, declaring that selected Greek taxpayers were mandated to declare on their tax forms assets such as cash “under the mattress,” jewelry, and precious metals like gold and silver. Currently the law only applies to certain taxpayers (lawmakers, journalists, public servants, etc.), and includes a....