Cabinet orders liquidation of EVA JSC and closure of USDKG gold-backed cryptocurrency project
12 Articles
12 Articles
The authorities of Kyrgyzstan have decided to eliminate the world's first gold-rich USDKG State Stablcoin. The USDKG project ends its activities, including on block-nets, and transmits RIA News to RIA with reference to the published directive of the Cabinet of Ministers of the Republic. In order to optimize the participation of the State in economic societies, the Government has also ordered the dismantling of the open equity companies EVA and K…
Kyrgyzstan Ends Its State-Issued Stablecoin Project After UK Sanctions
Summary: Kyrgyzstan has ordered the liquidation of USDKG’s state-owned issuer and Coin Nomad Exchange. The decision follows UK sanctions against […] The post Kyrgyzstan Ends Its State-Issued Stablecoin Project After UK Sanctions appeared first on CoinsPress.
Kyrgyzstan Shuts Down $50M Gold-Backed USDKG Stablecoin After UK Sanctions
TLDR Kyrgyzstan has ordered the liquidation of USDKG issuer EVA and state-owned Coin Nomad Exchange. USDKG holders can email the project to exchange tokens for fiat money or USDT, but no deadline has been set. Britain sanctioned the USDKG issuer in May under its Russia sanctions program. USDKG still trades near $1, with 50 million [...]
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