Kyrgyzstan has shut down USDKG, a gold-backed stablecoin, and ordered the liquidation of its issuer, according to a Techub News brief citing Crypto.news. The update states that holders of USDKG will still have a path to exit their positions, with exchanges available into fiat currency or USDT. No further details were provided in the source brief on the timing of the shutdown, the liquidation process, or the number of holders affected. The report identifies USDKG as a gold-backed stablecoin and frames the move as a formal closure paired with issuer liquidation. For current holders, the key operational point is that redemption remains open through conversion into fiat or Tether’s USDT.
Kyrgyzstan has shut down USDKG and ordered its issuer to be liquidated, according to a Techub News brief that cited Crypto.news.
Holders can exchange the gold-backed stablecoin for fiat or USDT, the brief said.
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