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South Korea to pilot blockchain deposit tokens for government spending in Q4

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South Korea to pilot blockchain deposit tokens for government spending in Q4

South Korea’s Ministry of Economy and Finance will begin testing blockchain-based deposit tokens for government spending in the fourth quarter as part of a broader push to modernize how public funds are managed.

The ministry said the pilot to spend Treasury funds as digital currency was approved under a 2026 regulatory sandbox program, local media reported.

The approval allows business promotion expenses, currently processed with government purchasing cards, to be paid using tokenized deposits.

The change alters a long-standing system governed by the Treasury Funds Management Act, which required card-based payments. In the sandbox environment, agencies will be able to operate outside those rules on a limited basis to test new methods.

Officials expect the change to improve oversight. Token-based payments can be programmed with predefined conditions, including limits on when funds can be used and which industries can accept them. This could reduce the need for manual audits, especially when spending occurs outside standard hours.

The system also removes intermediaries such as card networks, which the ministry says could lower transaction fees for small businesses that receive government payments.

This marks the second use of deposit tokens in Treasury operations, following an earlier pilot tied to electric vehicle-charging infrastructure subsidies.

The trial will take place in Sejong City after a selection process for participating firms, the report states. The ministry plans to expand the program if it shows stronger control over spending and measurable cost savings.

InsurTech NY: ePayPolicy on Digitising Payments

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InsurTech NY: ePayPolicy on Digitising Payments

At InsurTech NY, Andrew Easley from ePayPolicy explains how the company is addressing a long-standing issue in insurance: payment collection and commission payouts.

Easley says many carriers are increasingly looking to step away from managing payments directly. Handling collections, commissions, and payment reconciliation can be operationally complex and resource-intensive, particularly for organisations focused on underwriting and risk.

According to Easley, this shift is becoming more visible in 2026, with carriers actively exploring ways to move payment responsibilities to specialist providers.

That’s where ePayPolicy positions itself.

Easley explains that the platform provides a way for insurers to digitise payment workflows, allowing them to move away from traditional methods such as paper checks. He notes that the industry has historically relied heavily on checks, which can slow down processes and create inefficiencies across the payment lifecycle.

By contrast, ePayPolicy enables payments to be made digitally through ACH and card-based methods, streamlining how funds are collected and distributed. The platform also integrates with policy systems, ensuring that payment data is automatically recorded and aligned with existing workflows.

For Easley, this is about simplifying operations.

Rather than managing payments internally, carriers can shift that responsibility while still maintaining visibility and control through integrated systems. This allows them to focus on their core business, while improving efficiency and speed across payment processes.

He also highlights the importance of events like InsurTech NY in supporting this shift.

Easley describes the conference as a key venue for connecting with carriers, MGAs, and other stakeholders in the insurance ecosystem. Having everyone in one place allows for more direct conversations, helping companies like ePayPolicy better understand industry needs and build relationships with potential partners.

After attending the event for several years, Easley notes that its value lies in bringing together the right people those involved in decision-making and those actively looking to modernise their operations.

Overall, his perspective reflects a broader move within the industry.

Payments, once seen as a routine operational function, are now becoming an area for digital transformation with carriers increasingly looking to modernise, streamline, and outsource where it makes sense.

Cato Scholar Calls For Ending to Bitcoin Capital Gains Tax

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Cato Scholar Calls For Ending to Bitcoin Capital Gains Tax

Cato Institute, a US-based think tank, has argued the government should remove capital gains taxes on Bitcoin and other cryptocurrencies to open the door for more currency competition.

Capital gains tax (CGT) is discouraging the use of alternative currencies like Bitcoin (BTC) as it incentivizes long-term holding and adds extra burdens to reporting requirements, Nicholas Anthony, a policy scholar and research fellow at the Cato Institute, said in a report on Wednesday.

He argued the simplest option is to end capital gains taxes completely; however, another option could be removing them on crypto and foreign currency use to “take the government’s thumb off the scale and let competition be the true decider of the best money.”

“Bitcoiners know the frustration of tax season all too well. It’s never been easier to use Bitcoin as money,” he said. “Yet, at the same time, the tax code puts an incredible burden on law-abiding citizens. Something as simple as buying a cup of coffee every day with Bitcoin can result in more than 100 pages of tax filings.”  

The Cato Institute is a US public policy think tank that tries to influence policy through research and reports. Its members have testified before lawmakers advocating for crypto in the past.

No capital gains tax could create a more competitive economy

Using crypto to pay for goods and services can trigger a taxable event in some cases because it falls into the same broad category as stocks, real estate, and other capital assets, according to investment management firm VanEck.

Anthony argued another solution could be to remove CGT just for purchases of goods or services, but also warns it “risks creating its own compliance nightmare if people are required to prove the transactions. That’s better than being taxed, but the process would still be taxing.”

He also pointed to a de minimis tax as another possible avenue, where CGT is not triggered unless a specific threshold is met.

Related: Iran conflict hints Bitcoin’s addressable market could exceed gold: Bitwise

“The only thing worse than getting robbed would be having the robber demand endless forms about the money they are taking from you. Taxes are no different,” Anthony said.

“Congress should simplify the tax code so the average American can do what’s required with ease. Doing so would go a long way toward easing Americans’ stress each tax season and creating a more competitive economy.”

A 2025 National Cryptocurrency Association survey found that 39% of US crypto holders reported using crypto to purchase goods and services.

Meanwhile, the academic publishing company Springer Nature identified about 11,000 merchants worldwide using BTC Map data that currently accept Bitcoin as payment.

Magazine: Bitcoin quantum-safe without upgrade? CZ’s 2031 crypto vision: Hodler’s Digest