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ARTICLE · 02 DECEMBER 2021

Dealing With Digital Assets On Death: An Update Who Owns Them? Who Can Access Them? What Can Be Done To Protect Them?

Gardiner Roberts LLP
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Of a capped total of 21 m. Bitcoins, 18.77 m. have been "mined"...

CanadaTechnology
Lindsay Ann Histrop
Lindsay Ann Histrop
Parish Bhumgara
Parish Bhumgara
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Digital Assets – Prologue

Bitcoin Example

  • Of a capped total of 21 m. Bitcoins, 18.77 m. have been "mined"
  • Some sources estimate that as many as 3 m. bitcoins (~$38 billion) are irretrievable
  • Due to:
    • Lost retrieval codes ("private keys")
    • Lost USB's where the only records are stored
    • Owner death without leaving the private keys accessible to executors or next of kin

Digital Assets – Prologue

Cryptocurrency Market Expanding

  • Wealthsimple now offers 34 different cryptocurrencies on its investing platform
  • Some popular ones include:
  • Etherium
  • Litecoin
  • Ripple
  • Cardano
  • Dogecoin

Digital Assets – Prologue

Non‐Fungible Tokens

  • Since our last Toolbox Non‐Fungible Tokens have expanded into other asset classes.

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