Cryptocurrency, a digital form of currency that uses cryptography for security, has become a significant part of the global financial landscape. As such, it has also become an important consideration in estate planning. This Dechert OnPoint provides an overview of the ownership and estate planning considerations and implications for U.S. and non-U.S. persons.
Access and Ownership
Cryptocurrencies, such as Bitcoin and Ethereum, can be owned by individuals or entities and are not typically tied to a physical location. They rely on digital wallets, which can be stored either on local devices not connected to the internet or on traditional or cloud-based servers.
