South Korea Police Raise Seized Crypto Custody Budget to 267 Million Won in Fourth Bid

South Korea's National Police Agency has opened its fourth bidding process to appoint a custodian for seized virtual assets, raising the budget 3.2-fold to 267 million won, with a bid deadline of June 24. According to NS3.AI, critics said the tender requirements may be structured in a way that favors large won-denominated cryptocurrency exchanges over smaller custody firms. The agency is seeking a provider to handle custody services for virtual assets it has seized.