Business · Cryptocurrency · published 2026-10-11 · via Cryptonomist

Kyrgyzstan winds down USDKG as Asian crypto rules tighten

Kyrgyzstan has ordered the liquidation of USDKG issuer EVA and Coin Nomad Exchange, ending its national stablecoin project. The roundup also covers South Korea's proposed registration requirements for virtual asset transfer operators, Thailand's planned Bitcoin and Ethereum ETFs, and other regional measures on mining, tokenization, and reserves. USDKG holders can redeem tokens for fiat or USDT after the project's shutdown.

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Kyrgyzstan’s decision closes USDKG issuer EVA and Coin Nomad Exchange. The stablecoin began in November 2025 with about 50 million tokens planned for cross-border payments. After the UK sanctioned EVA in May 2026 over suspected Russian support, officials opted to liquidate state assets; holders may exchange USDKG for conventional money or

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This summary is Al-enhanced to contain extended analysis and broader social context. The original is {NAME); the linked article is the authoritative source. Original headline: “Asia’s crypto regulatory updates include Kyrgyzstan’s USDKG stablecoin shutdown.” Browse more stories.