Gyeonggi Province in South Korea suddenly suspended the stablecoin introduction project, originally scheduled to be completed in February 2027 or postponed

According to NexBlock, Gyeonggi Province in South Korea has suspended the research project for the introduction of stablecoins.

The reason given is the need to consider the progress of related policies such as the "Basic Law on Digital Assets." It is reported that the project was initiated in early July this year, with the first phase of proof of concept (PoC) originally planned for August, and the second phase of expansion and testnet scheduled to proceed from October to December. However, no substantial progress has been made so far.

However, an official from Gyeonggi Province explained that the project has not been canceled; the suspension is mainly due to considerations of the policy environment and not a comprehensive budget cut. The originally planned completion date in February 2027 may be affected, and the final completion time may be delayed.