The Bank of Korea recently sent the second round of digital currency testing plans to major domestic banks. This round of testing will innovatively distribute government subsidies to the public using digital currency. This innovative approach aims to leverage the programmable features of digital currency to precisely restrict the use of subsidies, while significantly reducing administrative costs and procedural burdens associated with subsidy management.

However, the central bank stated that the specific implementation details and timeline are still under internal consultation, including the scale, method, and start date of the digital currency subsidy pilot. This move also reflects the ongoing exploration by central banks worldwide into the practical application of digital currencies.