Came across NexBlock / Chain Catcher: Gyeonggi Province in South Korea has put its research project on a “stablecoin adoption plan” on hold for now. The official explanation is that it’s reviewing the policy landscape, including the Digital Asset Basic Act—not scrapping the project or making sweeping budget cuts.
Key details: The project launched in early July this year. The implementing agency had previously proposed a first-phase PoC in August, followed by expansion/testing on a testnet from October to December, but the provincial government says no substantive progress has been made so far. The project was originally due to wrap up around February 2027, but officials say that may be pushed back. The restart and pilot schedule will be discussed again with the implementing agency. The idea was to explore whether stablecoins could be used for local currency and public disbursements (the materials mentioned measures such as ZK-based abuse prevention and proof of reserves).
Local pilots will also follow the pace set by higher-level legislation—so for now, note that it’s on hold, not dead.
#稳定币 #South Korea
Key details: The project launched in early July this year. The implementing agency had previously proposed a first-phase PoC in August, followed by expansion/testing on a testnet from October to December, but the provincial government says no substantive progress has been made so far. The project was originally due to wrap up around February 2027, but officials say that may be pushed back. The restart and pilot schedule will be discussed again with the implementing agency. The idea was to explore whether stablecoins could be used for local currency and public disbursements (the materials mentioned measures such as ZK-based abuse prevention and proof of reserves).
Local pilots will also follow the pace set by higher-level legislation—so for now, note that it’s on hold, not dead.
#稳定币 #South Korea
