The Korean National Tax Service is piloting a program to entrust the management of seized virtual assets to private escrow institutions for the first time.

CoinFeed reported on May 10th that, according to News1, the Korean National Tax Service is piloting a program to entrust the safekeeping and management of seized virtual assets to private crypto escrow institutions. The bidding process was announced on April 29th, with a deadline of May 12th. The trial is planned to run until the end of this year. Korean escrow institutions such as KODA, KDAC, Hecto WalletOne, BDACS, and InfiniteBlock are all preparing to participate.