Kyrgyzstan's government has ordered the closure of USDKG, its gold-backed stablecoin, along with the liquidation of EVA, the issuing company, and Coin Nomad Exchange, the state-owned crypto trading platform. This move aims to optimize state asset management but follows sanctions from the UK linking EVA to Russian economic activities and broader geopolitical pressures. USDKG holders can exchange tokens for fiat or convert to USDT. This case highlights the risks state-backed crypto projects face under international sanctions and geopolitical tensions.
Kyrgyzstan's closure of its gold-backed stablecoin USDKG is the subject, with Pluang market data as context. As of Oct 08, 2026 21:15 WIB, among 50 major cryptocurrencies on Pluang, 25 rose and 24 fell. Notable price changes include SNX at Rp4.398 (+4.00%), EGLD at Rp74.311 (+3.81%), and UNI at Rp136.428 (-3.78%).
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