Kyrgyzstan’s Gold-Backed USDKG Heads for Shutdown After UK Sanctions
The USDKG project is winding down after UK sanctions, with holders able to request fiat or USDT while the fate of its gold reserves remains unspecified.
Kyrgyzstan’s gold-backed USDKG project is preparing to close following UK sanctions, according to The Defiant.
As part of the wind-down, token holders can request payment in fiat currency or USDT. The project plans to retire its tokens.
The shutdown documents do not specify what will happen to the gold reserves backing USDKG, leaving that aspect of the closure unresolved.
Source: The Defiant
