Kyrgyzstan shuts down state stablecoin after UK sanctions its issuer

PravdaReport ·
Russia

Kyrgyzstan has terminated its first state-backed cryptocurrency project, the USDKG stablecoin, less than a year after its launch. The decision follows the inclusion of the project's issuer on a UK sanctions list, highlighting the precarious intersection of the country's fintech ambitions and the tightening web of international sanctions. Rapid Rise and Fall of a State Asset The USDKG project was…

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