South Korea requires reporting when funds from virtual asset sales are used to purchase a home


 according to Digital Asset, the South Korean government has revised the real estate transaction regulations, requiring that when using virtual assets to purchase a house, the funds must be truthfully declared in the fund-raising plan. The new regulations were jointly formulated by the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other departments, with the aim of increasing the transparency of transaction funds and preventing illegal funds from flowing into the real estate market. The fund-raising plan will include the funds from selling virtual assets as part of the own funds, and relevant transactions will need to submit supporting documents.