Kazakhstan Plans National Cryptocurrency Reserve by 2026

Kazakhstan’s President, Kassym-Jomart Tokayev, has announced plans to create a national cryptocurrency reserve and to adopt a law on digital assets by 2026. During his annual address, Tokayev proposed that the Agency for Regulation and Development of the Financial Market draft the necessary legislation and pass it before the set deadline.

The program also includes the establishment of a “State Fund for Digital Assets,” which will be managed through the National Bank Investment Corporation and will accumulate strategic digital assets. The fund will include cryptocurrencies considered “promising” in the new digital financial system.

Tokayev also confirmed the development of the “CryptoCity” project in Alatau, which will become the first fully digitalized city in the region, allowing cryptocurrency payments.

Kazakhstan is a major player in Bitcoin mining, accounting for approximately 13% of the global hashrate at its peak. However, the growth of mining activities has led to illegal operations and pressure on the energy grid.

Authorities say the initiative aims to integrate digital technologies into the economy and maximize the use of banking funds.