In South Korea, cryptocurrencies will be divided in divorce

In South Korea, married couples can now divide digital assets during the divorce process. IPG Legal explained that cryptocurrencies, like other intangible assets, can be considered during the property division.

Cryptocurrency as an intangible asset

If one partner owns cryptocurrency, the other can request a division of these assets. Spouses can approach the court to initiate an investigation to establish facts, which will help determine the value of the digital assets and track the investments.

Tracking cryptocurrency assets

Tracking such investments is easier thanks to blockchain technology, which preserves all transactions and prevents them from being deleted or altered. Transaction records from bank accounts, along with forensic investigations, can also help identify unknown cryptocurrency sources.

Methods of asset division

Partners involved in the divorce process have two options:

1. Cash out the cryptocurrency before dividing it.
2. Share the tokens directly, depending on the situation and mutual agreement.

This process allows couples to fairly divide both tangible and intangible assets, including cryptocurrencies accumulated during the marriage.