The National Bank of Kazakhstan has announced its intent to create a state-managed cryptocurrency reserve, drawing from international practices. This proposal is supported by local authorities and financial experts.
Plans for Cryptocurrency Reserve
According to a report by the state news agency Kazinform, local authorities are exploring the potential for creating a cryptocurrency reserve, which is expected to be funded by confiscated digital assets and government-run crypto mining operations.
Chairman's View on Crypto Asset Risks
National Bank Chairman Timur Suleimenov emphasized the significant volatility and risks associated with crypto assets. He noted that centralized management of the reserve would ensure proper oversight and risk management.
Kazakhstan and Global Trends in Cryptography
Kazakhstan is actively exploring the integration of cryptocurrencies into its financial system. In May, President Kassym-Jomart Tokayev announced plans to launch 'CryptoCity', a pilot zone for cryptocurrency use. At the same time, authorities continue to tighten control, evidenced by a recent crackdown on 36 illegal cryptocurrency exchanges.
The initiative to create a state cryptocurrency reserve highlights Kazakhstan's commitment to adapting its financial instruments to modern challenges. It also reflects a growing interest in cryptocurrencies on the international stage.
