We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

What Bankruptcy Trustees Need To Know About Bitcoin

Law360, New York (June 29, 2015, 3:30 PM EDT) -- Bankruptcy trustees and creditors need to understand digital currencies so that debtors cannot take advantage of their unique attributes to hide assets that are difficult to identify and recover. Although digital currencies like bitcoin may be used like “traditional” currency, bitcoin transacts along its own value transfer system called the "blockchain," which is a distributed ledger that records and maintains a perfect, unchangeable record of all transactions.

Many attributes of digital currencies make them attractive conduits for fraudulent transferors. Transaction costs across the blockchain are miniscule, and transactions “clear” quickly and on a regular time interval regardless of the amount of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related

Sections

Law Firms