Cryptoassets are being seen more frequently in the administration of estates. This guide, written by Francis Wilks & Jones in association with our friends at Opus Business Advisory Group, provides a summary of the factors to consider, practical issues and tips for dealing with virtual assets, and advice surrounding the recovery of cryptoassets during insolvency.
Cryptocurrency has rapidly transformed the financial landscape, influencing everything from global investment strategies to everyday transactions. With this evolution, insolvency practitioners are increasingly encountering cases where digital assets play a pivotal role. Unlike traditional assets, cryptocurrencies—such as Bitcoin, Ethereum, and other digital currencies—are decentralized, anonymous, and highly transferable. This presents both unique opportunities and substantial challenges when handling insolvent estates, as cryptocurrency doesn’t fit neatly within conventional insolvency frameworks.
Our guide, Cryptocurrency and Insolvency, was created specifically to assist insolvency professionals in tackling these emerging challenges. It explores the practical, procedural, and legal nuances of managing digital assets in insolvency situations, providing a comprehensive overview tailored to the needs of today’s practitioners.
