Kyrgyzstan has launched its national stablecoin, USDKG, with an initial issuance of approximately $50.14 million. Each USDKG is valued at $1 and is backed by gold reserves, issued by a state-owned enterprise under the Ministry of Finance. The stablecoin aims to facilitate cross-border payments and trade, with plans to expand its issuance to $500 million and eventually $2 billion. Simultaneously, Kyrgyzstan has halted all cryptocurrency mining operations nationwide due to power shortages. Energy Minister Talaybek Ibraev announced the shutdown, alongside measures such as power rationing and electricity imports from neighboring countries, including Russia, to address the energy crisis.