So, let's say there's a person in the U.S. with a bitcoin stash worth around 200 million bucks. If they end up needing to pay child support, can the government dip into their bitcoin holdings for those payments? Or is it just the cash from their paycheck that gets taken?
Paying child support with bitcoin
4 replies 102 views
diamond_2020Legendary
Posts: 1256 · Reputation: 6502
#2May 23, 2018, 02:04 AM
I'm not an expert on American law, but as far as I know, alimony is paid as a percentage of the income of the person who is obligated to pay alimony.
If you are talking about divorce proceedings, then your bitcoins as well as other assets will be divided between the spouses according to US and state law.
AtomicCoinMember
Posts: 5 · Reputation: 124
#3May 23, 2018, 05:14 AM
Hello,
Blockchain analysis tools can trace transactions, and if an individual has Bitcoin, child support enforcement agencies can use these tools to uncover and seize funds from a wallet.
As far as I know, the applicable laws and regulations regarding child support in the US, usually deducted directly from wages, there are provisions and laws in court where parents can pay in other ways for child support.
For example:
As far as I know, there is no deduction from parents' income for child support from the government, except:
For clearer information: How Child Support Services Work in the US
I think there are no other income withholding and child support laws in the US, except as in the quote above, legal notice in court paying with Bitcoin assets.
gwei_orbitMember
Posts: 1 · Reputation: 75
#5May 23, 2018, 11:44 AM
Im sorry how but cooked do you have to be as an American, for the local state which presumably always holds alimony of earned income being taxed deductible funds in USD be able to seize your synonymous Bitcoin holdings??? Who the hell is Harold he thinks family court is the cybersecurity expert of blockchain technology and tracking down people non kyc bitcoin transactions??? With all due respect if you over $200 mill in any asset you should have full custody of your child but hey child support isnt a lifetime thing, take care of your bitcoin assets as you should your offspring. Piece ❤️
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