Kyrgyzstan Shuts Stablecoin USDKG, Burns 50M Tokens After UK Sanctions

Kyrgyzstan is winding down USDKG, its state-backed gold stablecoin, and liquidating both its issuer EVA and the country's first state-owned crypto exchange. The government ordered the liquidation after UK sanctions, and 50 million USDKG tokens are being burned as part of the shutdown process.