The government of Kyrgyzstan has ordered the shutdown of USDKG, its state-backed gold stablecoin, and instructed the Ministry of Finance to liquidate EVA, the company that issued it, along with Coin Nomad Exchange, the country’s first state-owned crypto trading platform. The official explanation is optimising state participation and improving the
An independent audit has formally verified the physical gold reserves backing USDKG, the gold-backed stablecoin introduced under the regulatory framework of the Kyrgyz Republic. The review confirms that the full reserve quantity, chain of custody, and valuation align with the issuance of the first 50 million USDKG tokens, reinforcing the
Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin pegged 1:1 to the U.S. dollar, with an initial issue of $50 million. The token is issued on Tron and fully audited by ConsenSys Diligence, with future expansion slated to include Ethereum support. The issuer, OJSC Virtual Asset Issuer, is a state-owned
The Kyrgyz Republic is rapidly emerging as Central Asia’s most progressive jurisdiction for digital assets, following a series of decisive legislative and regulatory steps aimed at establishing a transparent and secure environment for blockchain innovation. In contrast to neighboring countries that have imposed restrictions or blanket bans, Kyrgyzstan has implemented
