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Kyrgyzstan orders liquidation of USDKG stablecoin issuer and state crypto exchange after UK sanctions.

Market News
08 Oct 2026
Blockonomi
View Source
Bearish
Kyrgyzstan orders liquidation of USDKG stablecoin issuer and state crypto exchange after UK sanctions.

Kyrgyzstan has ordered the liquidation of EVA, the issuer of the USDKG stablecoin, and the closure of Coin Nomad Exchange, the country's first state-owned crypto exchange. This decision follows UK sanctions imposed on EVA in May 2026 for alleged economic ties to the Russian government. USDKG, launched in November 2025, was a gold-backed stablecoin pegged 1:1 to the US dollar and operated on the Tron blockchain. Holders can now exchange their tokens for fiat or USDT as the government winds down the project, officially citing optimization of state asset management as the reason for liquidation.

The Kyrgyzstan stablecoin USDKG and its issuer EVA are shutting down following UK sanctions. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 08, 2026 16:01 WIB: out of 50 major cryptocurrencies priced on Pluang, 14 rose and 35 fell today. Notable moves include EOS at Rp12.649 with an 8.13% gain and a typical hold time of 87 days, ONE at Rp38 with a 4.48% decline and a typical hold time of 152 days, and LTC at Rp1.153.543 with a 4.44% decline and a typical hold time of 78 days.

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