As the popularity of cryptocurrency continues to rise, it increasingly becomes a factor in divorce proceedings. For couples in Illinois, understanding how cryptocurrencies are treated during a divorce can significantly impact asset division and financial settlements. If cryptocurrency is a factor in your divorce, discuss with an attorney what implications it may have on your divorce proceedings. Your lawyer will be able to
provide clear insights for individuals facing a divorce involving cryptocurrencies.
Understanding Cryptocurrency and Marital Property
In Illinois, all property acquired during the marriage, including cryptocurrency, is generally considered marital property and subject to equitable distribution. This means any Bitcoin, Ethereum, or other digital assets obtained during the marriage may be divided between spouses.