South Korea Mandates Crypto Disclosure in Real Estate Transactions

In a move aimed at increasing transparency and combating illicit activity, South Korea has implemented new regulations requiring full disclosure of cryptocurrency proceeds used for real estate purchases. Effective September 8th, the government’s revised regulations mandate reporting of funds from virtual asset sales when financing home purchases. The initiative, spearheaded by ministries of Finance, Land, and Transport, aims to prevent illegal capital inflows into the property market.