The Kyrgyz government has ordered the termination of the stablecoin USDKG project, allowing token holders to redeem for fiat currency or USDT.

BlockBeats news, October 8 — According to an announcement by the USDKG project, pursuant to Order No. 639-t issued by the Cabinet of Ministers of Kyrgyzstan on August 20, 2026, the USDKG project will cease operations, including halting its related activities on blockchain networks. USDKG holders may apply via the official email to exchange their existing tokens for fiat currency or USDT.

The announcement did not further explain the specific reasons for the project's cessation of operations or subsequent arrangements. Relevant token holders may contact the exchange matters through the email provided by the project team.