Kyrgyzstan is ending its national USDKG stablecoin project, while South Korea proposes tighter transfer controls and Thailand prepares to open its domestic crypto ETF market. These Asia crypto regulatory updates, reported on October 11, 2026, combine shutdowns and compliance requirements with institutional settlement tests and stablecoin partnerships.

Key takeaways

• Kyrgyzstan ordered the liquidation of USDKG’s issuer and Coin Nomad Exchange.
• Dubai requires reserves covering all VASP customer liabilities.
• Thailand’s first crypto ETFs will hold only Bitcoin or Ethereum.

According to Wu Blockchain, Kyrgyzstan instructed its Ministry of Finance to liquidate EVA, USDKG’s issuer, and Coin Nomad Exchange, the country’s first…