Bitcoin the New Mattress Full of Cash for Divorce Cheats

Soaring Bitcoin and other unregulated digital currencies are giving husbands and wives a new way to hide money in a divorce.

The perceived privacy and anonymity that cryptocurrencies afford users make them attractive options for parties seeking to conceal marital assets, Peter M. Walzer, the president-elect of the American Academy of Matrimonial Lawyers (AAML) told Bloomberg Law.

“Just think Venmo or PayPal—someone would have to get your mobile phone to find out about these transactions,” Walzer told Bloomberg Law in a Dec. 21 email. “Bitcoin and its nefarious relatives—Coinye and other cryptocurrencies—are Venmo on steroids.”

He said Bitcoin is seen ...