Kyrgyzstan Shuts Down $50M Gold-Backed USDKG Stablecoin After UK Sanctions

TLDR Kyrgyzstan has ordered the liquidation of USDKG issuer EVA and state-owned Coin Nomad Exchange. USDKG holders can email the project to exchange tokens for fiat money or USDT, but no deadline has been set. Britain sanctioned the USDKG issuer in May under its Russia sanctions program. USDKG still trades near $1, with 50 million [...]

The post Kyrgyzstan Shuts Down $50M Gold-Backed USDKG Stablecoin After UK Sanctions appeared first on Blockonomi.