Kyrgyzstan Orders Liquidation of $50 Million Gold-Backed Stablecoin Issuer — BigGo Finance

Kyrgyzstan’s government has pulled the plug on its flagship state-backed cryptocurrency experiment, ordering the liquidation of the company behind the USDKG stablecoin and the country’s first state-owned digital asset exchange. The Cabinet of Ministers directive, made public on October 7, 2026, targets EVA — officially registered as Issuer of Virtual Assets — and Coin Nomad…

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…