Kazakhstan has shared a new plan to use some of its national reserves to invest in crypto-related assets. The announcement came from National Bank Governor Timur Suleimenov during a press meeting.
He explained that the country is looking at how other nations invest in the crypto industry. Countries like the United States, Norway, and those in the Middle East already put small portions of their funds into crypto or related companies.
Suleimenov said Kazakhstan also wants to try similar investments but will take careful steps due to high risk. He mentioned that crypto assets can give strong profits, but their prices often change quickly and can bring losses.
That is why the National Bank wants to study this market more before putting a large amount of money into it. The plan involves using part of the gold and foreign exchange reserves. It will also utilize savings from the National Fund for this purpose.
The government also wants to set up a separate national crypto reserve that will store digital assets taken by law enforcement. This means that when police or other agencies find illegal crypto, it will be saved and managed in a proper system. Kazakhstan plans to build special storage and security for these seized digital coins.
Kazakhstan to create Crypto reserve for seized assets
Suleimenov also said that in the future, some state-owned companies may start mining digital currencies. If these companies earn crypto, a portion of that could be taken as tax and sent to the new crypto reserve.
Some other countries have already implemented this type of system. Now, Kazakhstan is considering doing the same. At the same time, Kazakhstan is planning to tighten rules for crypto trading.
The authorities are planning to sanction people trading in virtual assets on the so-called “gray market,” or non-licensed markets, outside special exchanges. Licensed exchanges in the Astana International Financial Centre (AIFC) can provide crypto trading in Kazakhstan.
To protect against scams or misleading ads, the National Bank is also interested in controlling how digital coins are promoted. The new proposals suggest Kazakhstan is about to be more active in the crypto scene but with tight regulations.
