Kyrgyzstan shuts $50M USDKG months after UK sanctions

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…