South Korea Revises Real Estate Regulations to Include Virtual Assets

According to PANews, the South Korean government has amended its real estate transaction regulations, mandating the declaration of funds sourced from virtual assets in property purchases. The new rules, developed collaboratively by the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other departments, aim to enhance transparency in transaction funds and prevent the influx of illegal money into the real estate market. The funding plan document now includes proceeds from the sale of virtual assets as part of personal funds, requiring submission of supporting documentation for related transactions.