Divorce is not an easy matter. Even in the case of a consensual divorce, the sadness over a relationship that did not work out can weigh heavily on the atmosphere. The process becomes even more complicated when one of the two spouses tries to conceal their true assets—especially when those assets include cryptocurrencies.

Unlike traditional bank accounts, the nature of cryptocurrencies makes them harder to trace.
In recent years, hiding wealth has taken on new—digital—dimensions. The ease offered by Bitcoin, Ethereum, and others makes them difficult to detect. Unlike traditional bank accounts, their nature renders them less traceable. A spouse is legally obliged to disclose all assets, including cryptocurrencies. Failure to declare them may be considered fraud, which can carry serious legal and financial consequences. This is particularly important in cases where one spouse is not fully aware of the household’s financial affairs.

What to watch out for
Experts warn of signs that may reveal a spouse is concealing assets in cryptocurrencies. These include sudden interest in crypto, unexplained withdrawals of large sums from joint accounts, the use of apps and wallets associated with cryptocurrencies, browser histories showing searches and visits to crypto-related websites, and changes in income or declared assets that are not easily explained.

An increase in such cases is expected
Matt Foster of the London-based law firm Charles Russell Speechlys, which specializes in private capital and real estate matters, speaking to the Financial Times, commented that the problem lies not only in the concealment of cryptocurrencies but also in the suspicion that such concealment may be taking place. According to him, it is inevitable that issues of non-disclosure and hidden cryptocurrencies will continue to rise in divorce cases, whether they involve actual concealment or suspicions raised by a former spouse.
Another important issue arises in the case of prenuptial agreements. Failure to disclose significant assets, such as cryptocurrencies, may lead to the agreement being annulled. This trend makes full disclosure of all assets even more critical for protecting the rights of both parties.
At the same time, lawyers are becoming more familiar with cryptocurrencies, while, where necessary, specialized accountants are hired to examine bank accounts—although this process is often quite costly.

Difficulty in valuing them
At the same time, a problem arises from the very nature of cryptocurrencies—namely their value. Prices are volatile, which makes it difficult to assess their true worth during the divorce process. Lawyers and accountants may face challenges in determining their value, especially during periods of sharp market fluctuations.

Protecting interests when children are involved
In cases of joint custody or consensual divorce with children, cryptocurrencies may also affect financial support for minors. If cryptocurrencies are not disclosed, there may be inequality in the distribution of assets, which could disadvantage the spouse who requires financial support to care for the children.

Legislative framework
As cryptocurrencies continue to evolve, pressure for legal regulation is increasing. Nevertheless, in some countries there remain ambiguities regarding the recognition of cryptocurrencies as assets during court proceedings, which can lead to delays or uncertainty over spouses’ rights. The Markets in Crypto-Assets Regulation (MiCA) constitutes the first comprehensive legal framework in the European Union governing the issuance, public offering, and provision of services related to crypto-assets. As a result, in EU countries—including Greece—cryptocurrencies are now incorporated into a strictly regulated environment that requires transparency, eliminating the previous regulatory gap.

Training for lawyers
Education around cryptocurrencies is proving essential for lawyers, enabling them to handle such cases effectively. In addition, it is useful for spouses themselves to understand the value and nature of cryptocurrencies, so they are able to spot the warning signs if something is being concealed from them.