South Korea strengthens cryptocurrency oversight in real estate transactions to curb tax evasion
A new analysis system will track fund flows and verify the origin of property purchase funds
The move aligns with global efforts to enhance cross-border monitoring of virtual assets by 2030
South Korea’s National Tax Service (NTS) is stepping up oversight of virtual assets by introducing new tools to track how cryptocurrency is used in real estate transactions.
As per a local report, the NTS is finalizing an “Integrated Virtual Asset Analysis System” that will include a feature to scrutinize the source of funds used when purchasing property. The move aims to close tax loopholes, particularly those related to gift taxes and…
