Crypto-assets: An Emerging Asset Forming Part of Financial Settlements
20th April 2022
Ownership of crypto assets, in particular cryptocurrencies such as Bitcoin, has rocketed in the past few years. It is therefore unsurprising that such assets are increasingly part of financial settlements when relationships have broken down.
What is cryptocurrency?
Briefly, cryptocurrency is a digital currency. Cryptocurrencies are mainly decentralised, meaning that they are not issued or controlled by a central authority such as a bank. Cryptocurrency works on blockchain technology, which keeps a record of and verifies transactions using distributed ledger technology (“DLR”), or other similar technology. The blockchain ledger is stored on a network of computers across the globe joined together by DLR.
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