Kazakhstan’s central bank is set to establish a state-managed cryptocurrency reserve, which may be funded through seized digital assets and government-backed mining operations. The National Bank of Kazakhstan is exploring the creation of this local crypto reserve to align with international standards. Chairman Timur Suleimenov emphasized that central oversight would be essential for effective risk management, especially given the volatility associated with cryptocurrencies. A recent response to a parliamentary inquiry confirmed the bank's support for this initiative, suggesting management could fall under a bank subsidiary focused on alternative investments. This move follows President Kassym-Jomart Tokayev’s earlier proposal to create a pilot zone for cryptocurrencies. The country is also tightening enforcement against illicit activities within crypto, aiming to prevent money laundering and enhance financial oversight. The trend of establishing national crypto reserves is gaining momentum globally, hinting at a growing recognition of cryptocurrencies in budgetary and regulatory frameworks.

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