Regulation· ★★★· bearish·

Kyrgyzstan to liquidate state-issued stablecoin USDKG

  • —50 million USDKG remained in circulation: 47 million on TRON, 3 million on Ethereum
  • —Reserves comprised 30 gold bars totaling about 376 kg, confirmed by Kreston Global in December 2025
  • —State exchange Coin Nomad Exchange began voluntary liquidation on September 3
  • —The USDKG issuer was sanctioned by the UK on May 26, 2026
Why it matters: The first liquidation of a state-issued stablecoin leaves USDKG holders without disclosed redemption terms, while the fate of its gold backing remains unclear.
#USDT
Source: ForkLog
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