Kyrgyzstan has shut down its gold-backed USDKG stablecoin less than a year after its $50 million launch, with the government ordering the liquidation of issuer EVA and state-owned Coin Nomad Exchange.
Summary
- Kyrgyzstan ordered USDKG issuer EVA and state-owned Coin Nomad Exchange into formal corporate liquidation proceedings.
- USDKG holders can request fiat or USDT redemptions through the project’s official contact email address.
- Britain sanctioned USDKG’s issuer in May, citing suspected business of economic importance to Russia’s government.
- 50 million USDKG remain listed as circulating while CoinGecko shows the token trading near $1.
- Coin Nomad began voluntary…