Can Crypto Be Garnished?

This video features David Shuster, a Bankruptcy attorney based in Texas.

Dallas—Fort Worth Bankruptcy Lawyer Explains

Video Transcript:

Tom Mustin: 

Can creditors garnish your crypto account?

David Shuster: 

Yeah, a creditor can garnish a bank account, they can garnish stock account that's not a retirement account. So yes, they can garnish a crypto account, but it's going to be a lot more difficult for the creditor to find out that information for sure. But yeah, they can do it. You know, they can force you to answer questions about what you own under oath. But it's, again, it's going to be more difficult. You know, in Texas, you can't garnish wages, but you can garnish someone's bank account if it's not Social Security. A crypto account is included. Haven't seen that yet. I got to think that it's going to be safer. If you have judgments against you, you're better off just cashing your checks and keeping cash. But crypto would seem to be at the time, at this time, more safe than a bank account. But yeah, they can do it.

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