South Korea to Pilot Blockchain Deposit Tokens for Government Business Expenses
On April 16, the Ministry of Economy and Finance of South Korea announced that the "pilot project for the use of blockchain-based digital currency for treasury fund execution" has been selected as a topic for the 2026 targeted regulatory sandbox. Under this pilot, the business promotion expenses for government departments will be transitioned from the current government procurement cards to be issued and paid using blockchain-based deposit tokens. The South Korean government stated that this initiative is expected to enhance the transparency of fund usage through predefined usable time periods and industry scopes, while also reducing transaction fees for small merchants through a no-intermediary payment structure. The pilot program is set to officially launch in the fourth quarter of this year, starting in Sejong City, with plans to gradually expand its applicability.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yemen's Houthis vow more attacks on Saudi airports, oil facilities
Yen slips to a three-week low on US CPI, then recovers it all
Inflation surpasses expectations, impacting small-cap stocks; Russell 2000 drops nearly 2%, confirming a technical correction
On Wednesday, approximately four-fifths of the constituents in the Russell 2000 Index recorded declines. Since its peak in August, the index has dropped by 11%, falling below its 200-day moving average and entering a technical correction for the first time since March this year. Analysis indicates that with the US CPI rising more than expected and the probability of rate hikes increasing, small-cap, consumer, and transportation stocks are facing "sustained and long-term resistance."
Crypto prices
More
