Cryptocurrency and Marriage: What Is Useful to Know
With the popularity of cryptocurrency skyrocketing among the general public, it’s evident that it will become a marital asset subject to distribution in community property states and equitable distribution. If one or both spouses invest and transact with crypto, then this is a reason to think about the future of their digital coins in terms of its acquisition, ownership and inheritance. Let’s see what experience people already have in matters of cryptocurrency and marriage.
Get Talking to Other Couples in Married Chat
Talking to other couples about their crypto experience can help you avoid letting these digital currency matters get the best of your relationship. You can find couples who share similar life situations as yours on married chat, which allows you to take a detached look at your own relationship with each other, and with family finances as well, and also refresh your marriage at all. Like other services in the online dating industry, chat rooms for selected interests actually have a variety of possibilities. In fact, it might not only give you an idea of how to handle any cryptocurrency-related issues that you might be going through in your relationship, but give you something more, like flirting with other couples on a local chat and having an unforgettable romantic experience. Couples on these types of platforms are open-minded, friendly, and willing to help others, which is always a plus.
Did You Know That People Get Married on the Blockchain?
The ring exchange in marriages can occur in Blockchain, and several couples have already tried such a “wedding ritual”. During a traditional ceremony, newlyweds send digital tokens to each other via smartphones, using these tokens as virtual rings.
It could be a big step for those who choose to spend more of their lives in the digital space, including to capture their newfound love. Nowadays, you can meet your significant other on a dating site, build emotional intimacy online, then fall in love, and get married on the blockchain, leaving a digital footprint of your marriage. The record of exchanging the virtual rings will be saved on the Blockchain permanently as proof of your commitment to each other.
Сryptocurrency Assets During a Divorce – How to Deal?
The rising popularity of cryptocurrency has caused a new type of problem for divorcing couples. If you are currently going through divorce proceedings and need to know how to deal with your cryptocurrency assets, here are some helpful tips:
- If you agree that all or part of your crypto assets is marital property, then work out an agreement in advance with your spouse on how this will be dealt with during divorce proceedings. That can mean including provisions for your fair distribution as well as the treatment of any additional funds.
- Suppose you have not agreed on a division for your crypto assets. In that case, both parties must retain their counsel who can provide advice and guidance about how to divide these types of marital assets in divorce proceedings. Having this information may also help speed up negotiations by giving each party confidence and certainty in their negotiating position.
- The value of the cryptocurrency can fluctuate from time to time. It’s, therefore, vital to keep up with these changes and be aware that there may be additional tax implications for cryptocurrencies during divorce proceedings or as an individual other than your spouse (like if you are a beneficiary). That means that you should consult legal counsel before taking any actions like selling or transferring your cryptocurrencies.
- You should also be aware that if you are seeking to buy, sell or transfer any of these types of assets during divorce proceedings; then this may give the other party grounds to make allegations about your motive in presenting the transaction at an inconvenient time and in a way that is not in the best interest of your family.
- It may also be possible to have any orders for division changed after divorce proceedings are finalized, but this will depend on whether you were able to agree about the distribution prior and what type of property it was.
In general, the issues of cryptocurrency and marriage are very diverse, and can be both a common interest and a stumbling block for spouses. Emerging technologies such as online dating and blockchain have brought new opportunities for couples. Dating and marriage are going digital now, and who knows what other opportunities cryptocurrency will bring in the future.