Kazakhstan Plans National Cryptocurrency Reserve, Says Central Bank
The National Bank of Kazakhstan plans to establish a national cryptocurrency reserve, according to a report published Monday by the government news agency Kazinform. Local authorities are studying this possibility, following international models for managing digital reserves. The reserve is expected to be funded by confiscated digital assets and state-managed crypto mining operations.
Timur Suleimenov, Chairman of the National Bank, acknowledged the risks and volatility associated with cryptocurrencies and emphasized that placing the reserve under a centralized institution would enable proper oversight and risk management.
A response from the central bank to a parliamentary inquiry dated May 22 confirms support for the creation of this crypto reserve, noting that it could be managed by a central bank subsidiary specializing in alternative investments.
