For the first time, South Korea’s National Tax Service piloted entrusting private custodial institutions with the management of seized virtual assets.
Source：
www.news1.kr
According to News1, South Korea’s National Tax Service (NTS) has launched its first pilot program to entrust private cryptocurrency custodians with the custody and management of seized virtual assets. The related tender was announced on April 29, with bids due by May 12, and the pilot is scheduled to run through the end of this year. Major Korean custodians—including KODA, KDAC, Hecto WalletOne, BDACS, and InfiniteBlock—are preparing to participate. Although the pilot’s budget is only approximately USD 5,800, industry observers view securing a reference case labeled “National Tax Service Project” as symbolically significant.
