Crypto•11 October 2026•
1 min read
Kyrgyzstan Orders Liquidation of USDKG Stablecoin Issuer and Coin Nomad Exchange
Key Facts
1Kyrgyzstan authorities issued Order No. 639-t directing the liquidation of OJSC EVA and OJSC Coin Nomad Exchange.
2USDKG holders are permitted to request conversion of their holdings into fiat currency or USDT.
Kyrgyzstan authorities issued Order No. 639-t directing the liquidation of OJSC EVA, the issuer of the gold-backed USDKG stablecoin, and OJSC Coin Nomad Exchange. TokenPost and Crypto Briefing reported that the government mandate effectively ends the state-backed digital finance project following international regulatory pressures.
Holders of the USDKG stablecoin are permitted to request the conversion of their holdings into fiat currency or USDT. This liquidation follows operational challenges linked to UK sanctions imposed in May 2026, affecting a project that initially verified gold reserves of approximately 376 kg, valued at $50.3 million at the time of the project's launch.