PANews reported on September 8th that, according to Digital Asset, the South Korean government has revised real estate transaction regulations, requiring that funds raised from the sale of virtual assets for home purchases be truthfully reported in the financing plan. The new regulations, jointly formulated by the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other departments, aim to increase transparency in transaction funds and prevent illegal capital from flowing into the real estate market. Financing plans will now include proceeds from the sale of virtual assets as owned funds, and supporting documentation will be required for these transactions.PANews reported on September 8th that, according to Digital Asset, the South Korean government has revised real estate transaction regulations, requiring that funds raised from the sale of virtual assets for home purchases be truthfully reported in the financing plan. The new regulations, jointly formulated by the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other departments, aim to increase transparency in transaction funds and prevent illegal capital from flowing into the real estate market. Financing plans will now include proceeds from the sale of virtual assets as owned funds, and supporting documentation will be required for these transactions.
South Korean government requires reporting when funds from virtual asset sales are used to purchase a home
PANews reported on September 8th that, according to Digital Asset, the South Korean government has revised real estate transaction regulations, requiring that funds raised from the sale of virtual assets for home purchases be truthfully reported in the financing plan. The new regulations, jointly formulated by the Ministry of Finance, the Ministry of Land, Infrastructure and Transport, and other departments, aim to increase transparency in transaction funds and prevent illegal capital from flowing into the real estate market. Financing plans will now include proceeds from the sale of virtual assets as owned funds, and supporting documentation will be required for these transactions.
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