South Korea's National Tax Service conducts its first pilot program to entrust private custodial institutions with managing seized virtual assets

Mars Finance News reports that, according to News1, the Korean National Tax Service is piloting for the first time the seizure of virtual assets entrusted to private crypto custody institutions for safekeeping and management, with plans to run the trial until the end of this year. Major Korean custody institutions such as KODA, KDAC, Hecto WalletOne, BDACS, InfiniteBlock, and others are all preparing to participate. Although the budget for this pilot project is only about $5,800, industry experts believe that obtaining a reference case from the “Korean National Tax Service project” has symbolic significance.