The South Korean National Tax Service has launched a pilot program to entrust seized virtual assets to private crypto custody firms for management. Announced on April 29, the bidding for this initiative closes on May 12, with the trial set to run until the end of the year. Major Korean custody firms such as KODA, KDAC, Hecto WalletOne, BDACS, and InfiniteBlock are preparing to participate. Despite the project's modest budget of approximately $5,800, industry experts view securing a reference from the National Tax Service as symbolically significant.
South Korea's Tax Agency Trials Crypto Asset Custody with Private Firms
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