South Korea Now Recognizes Cryptocurrency Assets as Divisible in Divorce.

- Cryptocurrencies like Bitcoin (BTC) can be included in marital property and divided in a divorce, according to leading law firm IPG Legal.

- In an Oct. 10 blog post, attorney Sean Hayes said that under Article 839-2 of the Korean Civil Code, both tangible and intangible assets, including cryptocurrencies, are subject to division.

- This clarification is based on a 2018 Supreme Court decision that formally recognized virtual assets as property due to their economic value.

- Spouses can request a judicial investigation to determine a partner’s crypto assets, making it easier to track hidden wealth.

- South Korea has introduced legislation requiring high-ranking officials to disclose their crypto assets from June 2024.