Odaily News Jay Hunter, member of Palau’s Ministry of Finance and head of the Digital Residence Project, announced on the X platform that the Palau government will stop distributing the Palau Stable Coin (PSC) on September 8. Hunter said that the Palau stablecoin will be permanently frozen after September 15, and users need to spend their funds in advance. Hunter noted: “After September 15th, you will no longer be able to use PSC. This will give us time to process retailer redemptions before the pilot is officially terminated at the end of the month.” Hunter did not mention the exact reason for freezing the stablecoin, only Noting that the Palau government will send a survey to pilot participants next week. It is reported that the Palau government opened the stablecoin PSC pilot in August. (Cointelegraph)