Will MY Bitcoin Investments Count When I File for Bankruptcy?

[Fabainvest]

Hi Bitcoin talk. Can help me to solve this riddle, because i can not find the answer.

Will MY BTC Investments Count When I File for Bankruptcy?

[batang_bitcoin]

Depends on your countries ruling of law.

If there's no specific law on your country then I guess its a no. But its best for you to consult your country's best agency for asking that question or even consult a lawyer. I think it won't cost you that much but if there's someone here is of the same country as yours, let's see if he/she can give you better advice. Where you live?

[RamonBTC]

Posting it your local board section would be a great idea. The horseman that feed his horse on his backyard make the gardener away.

On practicalities, ask your neighbors / countrymen like @batang_ bitcoin have said.

For me this is a case to case basis, country by country kind of legal problem, that can be address within.

[btc_angela]

Hi Bitcoin talk. Can help me to solve this riddle, because i can not find the answer.

Will MY BTC Investments Count When I File for Bankruptcy?

You didn't mentioned what countries you staying so its hard to answer. If you are not sure, you may want to check this link in wiki, https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory. Or if you really wanted to get a good and friendly advise. You might want to post it in Legal board.

[Bitcotalk]

Posting it your local board section would be a great idea. The horseman that feed his horse on his backyard make the gardener away.

On practicalities, ask your neighbors / countrymen like @batang_ bitcoin have said.

For me this is a case to case basis, country by country kind of legal problem, that can be address within.

Right, as every country has its own laws, most especially when it comes to bankruptcy and it would be dependent on these laws when it comes to giving an answer to what the OP asked.

No one for now can tell, but for a regulated environment, for a country where your bitcoin purchase probably through exchange is subject to some law, rules and regulations as well as visible, then somehow, we may get to see this counting. But like a lot of you have said, even the case of filing for bankruptcy differs across board, so trying to get an answer in the local boards or at least telling us his country will suffice.

[kryptqnick]

Hi Bitcoin talk. Can help me to solve this riddle, because i can not find the answer.

Will MY BTC Investments Count When I File for Bankruptcy?

Who exactly is firing for bancruptcy? Is it you as individual entrepreneur, or is it a firm where you are CEO, major stakes owner or head of the board of directors? If we are talking about your firm and bitcoins are not in any way the property of the firm but rather your property, I am pretty sure that your btc savings don't count. If we are talking about you as a sole entrepreneur then I guess it's important whether you earned this money in that business and whether you decrared btc as income. You you did and the money used to count as something you gained in your activity as an entrepreneur, then I guess they will probably count in countries where there's some legislation related to cryptocurrencies that recognizes them as property or as money. Otherwise not. To sum up, the chances of btc being considered are pretty low.

[henmark]

Hi Bitcoin talk. Can help me to solve this riddle, because i can not find the answer.

Will MY BTC Investments Count When I File for Bankruptcy?

If your country is the one that recognizes bitcoin investment and some possible regulations in place to track maybe your purchases through exchanges, then, yes it counts.

However, in the real world, at least most of the ones that you and I know, we know this is not something that can easily be done without you going scout free. Your bitcoin investment is not known unless you declare it, and in that case, if you file for bankruptcy, it is just what you have available in hindsight and in the long run that would count actually.