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ARTICLE · 01 SEPTEMBER 2023

Can Crypto Assets Be Inherited?

Thomson Snell & Passmore
Thomson Snell & Passmore
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Thomson Snell & Passmore

Thomson Snell & Passmore

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‘Crypto' or crypto assets most certainly can be inherited upon death. If you have invested in cryptocurrency, then you can legally bequeath it to beneficiaries named in your will, unless held under a licence.

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'Crypto' or crypto assets most certainly can be inherited upon death. If you have invested in cryptocurrency, then you can legally bequeath it to beneficiaries named in your will, unless held under a licence.

What types of crypto assets are there?

Cryptocurrency is a type of crypto asset or token which can be transferred, stored and/or traded electronically. There are different types of crypto assets, which work in different ways. The main type of crypto assets include:

1) Exchange tokens i.e. cryptocurrency such as Bitcoin

2) Utility tokens - provides the holder access to goods or services on a platform using distributed ledger technology. This is a type of database that is decentralised in nature, eliminating the need for an intermediary to process, validate or authenticate transactions.

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