Kyrgyzstan has ordered the liquidation of USDKG, its public gold-backed stablecoin indexed to the dollar, less than a year after its official launch in November 2025. Approximately 50.14 million tokens had been issued on the Tron blockchain. The issuer EVA, formerly named Virtual Assets Issuer, was sanctioned by the United Kingdom on May 26, 2026 for alleged support to the Russian government. Token holders can request an exchange of their tokens for traditional currency or USDT, with no specific deadline or conversion rate disclosed so far.
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