South Korea Recognises Crypto as a Divisible Asset in Divorce Cases
Cryptocurrency can now be divided between married couples in South Korea during divorce proceedings.
South Korean law firm IPG Legal clarified the law, stating that both tangible and intangible assets, including crypto, can be divided during a divorce.
Citing Article 839-2 of the Korean Civil Act, IPG Legal explained, “Either spouse may request a division of marital assets accumulated during the marriage upon the divorce in Korea.”
The firm referenced a 2018 South Korean Supreme Court ruling that recognized cryptocurrency as property due to its economic value as an intangible asset. Consequently, cryptocurrencies acquired during marriage can be part of the marital estate.
If one party’s wallet information is unknown, courts can…
