Kyrgyzstan has decided to terminate its $50 million state-backed gold stablecoin project, USDKG, and has ordered the liquidation of its issuer, EVA, and the country's first state-owned cryptocurrency exchange, Coin Nomad Exchange. Launched in November 2025, USDKG was pegged 1:1 to the US dollar and backed by physical gold, primarily used for cross-border payments. The UK had imposed sanctions on the stablecoin's issuer in May 2026 for allegedly supporting Russia.