Small business owners and self-employed applicants must submit virtual asset balance certificates as officials fold crypto into repayment-capacity checks under the debt adjustment program.
South Korea has revised the New Start Fund debt adjustment program for small business owners and self-employed people so virtual asset holdings are now included when authorities assess an applicant’s repayment capacity. Since January, the fund has used virtual asset balance certificates in property evaluations following consultations with the country’s five major won-based crypto exchanges, and applicants identified for review must now submit those documents directly. The change brings crypto into a core household and business debt-screening process, treating digital assets more like other reportable property when officials decide restructuring terms.