Kazakhstan Considers Creating a State Crypto Reserve

Kazakhstan's government is discussing the establishment of a state crypto reserve — a special fund for storing and managing digital assets, Orda.kz reports.

Deputy Chair of the National Bank Berik Sholpankulov announced the proposal during a session of the Majilis.

First and foremost, confiscated crypto assets will be deposited there, becoming the government's strategic reserve. These are potential new crypto assets that could be acquired in the future. The Ministry of Artificial Intelligence is considering a proposal for mining by state-owned companies that could provide energy services in partnership with the private market. The private mining company, in turn, would pay with crypto assets, which would replenish this state crypto reserve,
Sholpankulov explained.

We understand that the cryptocurrency market is rapidly developing. Therefore, we are considering the possibility of using some of the state's capital to invest in digital assets,
 noted Sholpankulov.

Original Author: Ilya Astakhov