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The post Romania scales back digital IDs as Costa Rica unveils new app appeared on BitcoinEthereumNews.com. Homepage > News > Business > Romania scales back digital IDs as Costa Rica unveils new app Romanian authorities have announced plans to reduce the number of digital identity cards previously intended for free distribution amid the European nation’s fiscal crisis. Romania will reduce the distribution of free digital IDs from 5 million to 3.5 million. The move follows a budget cut of $24.6 million from the original $82 million earmarked for the ambitious digitization project, with the Ministry of Interior aiming to “streamline the use of funds.” Under the memorandum published by the ministry, authorities disclosed that the budget cuts are justifiable in the face of the country’s “systemic fiscal risk.” They added that the move stems from low public interest in receiving the free digital ID. Early in the year, Romania began issuing digital IDs to citizens with support from the European Union’s Recovery and Resilience Plan (PNRR). Details of the agreement stated that Romania will have to issue five million digital IDs to its citizens for free before June 2026, a milestone unlikely to be met following the budget cuts. Since launch, the country has issued a total of 436,674 digital IDs to citizens, a far cry from its original targets. Apart from distributing free digital IDs, Romania is expected to develop and roll out 11 online public services and launch a national awareness campaign. However, only four of the 11 online public services have been completed, with the remaining seven still in the works, with no clear date for mainstream launch. Following the delays, Romania may face a €264 million ($310 million) penalty from the European Commission if it fails to meet its digital ID targets. Industry experts say the fine may exacerbate the current fiscal crisis faced by the country while the government mulls solutions…

The post The Shocking Transparency Gap In South Korea’s Digital Currency Strategy appeared on BitcoinEthereumNews.com. Bank Of Korea Stablecoin Data: The Shocking