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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.

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