South Korea's Gyeonggi Province Pauses Stablecoin Project, Completion May Be Delayed

Gyeonggi Province in South Korea has paused work on a project to study introducing stablecoins, and its planned February 2027 completion may be delayed. According to Odaily, the province cited the need to consider policy developments, including the Digital Asset Basic Act. The project began in early July this year and was scheduled to start its first-stage proof of concept in August, followed by expansion and testnet work from October to December; it has made no substantive progress so far. A provincial official said the project has not been canceled and that the pause reflects policy considerations, not a broad budget cut.