How are you all? Today I will discuss with you about Dealing with cryptocurrency in a bankrupt estate .I will try to present my experience. I am young and have very little experience so please excuse any mistakes. A cryptocurrency is a virtual currency or digital asset designed to act as a medium of exchange like the AUD. Since its creation, its use has evolved and it is now mainly bought as an investment or speculative instrument. Cryptocurrencies are increasingly likely to form part of the assets that a bankruptcy trustee will be required to deal with when appointing [?]-definition so consideration needs to be given to identifying that particular class of assets, preserving their value for the benefit of the bankrupt -definition estate, assets in a volatile market Realize and distribute proceeds among creditors based on their specific rights.

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Identifying cryptocurrencies in bankruptcy estates
Because cryptocurrencies can be held and traded in pseudonymous names and there is no national "register," identifying whether a bankrupt holds cryptocurrencies may require additional due diligence on the part of the bankruptcy trustee.Bank statements of the insolvent to identify any such transactions. Since cryptocurrency is a digital asset, trustees should also consider collecting electronic evidence to aid investigations. Possible proof of ownership includes emails, mobile apps, QR codes, recovery seeds, internet browsing history and hardware. Review of electronic devices can also identify public and private keys.
Once a trustee suspects that a bankrupt has or is dealing with cryptocurrency, the trustee must make further inquiries with the bankrupt for ownership details and access to the relevant public and private keys.

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The keys will enable the trustee to trace past transactions through the exchanges where the cryptocurrency is held and identify any voidable transactions prior to bankruptcy. In addition, the following crypto analysis tools can be used by the Trustee to help determine the exit point for cryptocurrencies and their respective domain addresses:
Where the debtor is a high income earner, the trustee should periodically (ideally at each income review) seek and review the debtor's bank account statements to identify any investments made in crypto-currencies. Once identified, the trustee must seek further information to establish the intent and use of the cryptocurrency and determine whether it is vested as an asset in the bankruptcy estate.Today's discussion ends here. I hope you find it interesting and able to understand. Share your thoughts on today's topic. Wishes and blessings to all. Everyone stay well stay healthy stay with Steemit