Kyrgyzstan Stablecoin USDKG to Shut Down Months After UK Sanctions

TLDR: Kyrgyzstan ordered the liquidation of USDKG issuer EVA and state-owned Coin Nomad Exchange. USDKG holders can exchange their tokens for fiat money or USDT as the project now winds down.  The UK sanctioned the issuer on May 26 over business of economic importance to Russia’s government. USDKG launched in November 2025 as a gold-backed [...]

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