Kyrgyzstan has terminated the $50 million USDKG stablecoin project and ordered the liquidation of its issuer, EVA, following UK sanctions imposed on EVA in May 2026. The government also closed Coin Nomad, the country's first state-owned crypto exchange, effectively ending both the digital asset project and its trading platform. USDKG was a dollar-pegged token backed by physical gold, launched in November 2025 to facilitate cross-border payments. This move highlights how international sanctions on a crypto issuer can disrupt related token and exchange operations, with liquidation and closure marking the final steps in ending the USDKG initiative.
The shutdown of the USDKG stablecoin issuer in Kyrgyzstan is notable context for digital asset markets. For readers following cryptocurrency trends, here is Pluang's market snapshot as of Oct 08, 2026 18:02 WIB: out of 50 major cryptocurrencies priced on Pluang, 22 rose and 27 fell. Notable movers include ATOM at Rp32.068 with a 1-day change of +5.75%, LTC at Rp1.150.902 with -4.67%, and ONE at Rp38 with -4.27%.
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