Kazakhstan President Kassym-Jomart Tokayev introduced the proposal for a State Fund of Digital Assets during his state of the nation address. This fund aims to consolidate Kazakhstan's role in the digital finance sector by creating a strategic crypto reserve under the National Bank's Investment Corporation. Notably, cryptocurrency ownership in Kazakhstan has risen from 4% in 2022 to 8% in 2024, highlighting growing adoption. Tokayev pointed out that crypto mining has contributed significant tax revenue, totaling around $10.4 million in the previous year. Alongside these developments, he emphasized the need for measures to combat rising online fraud and announced plans for a fully digitalized smart city, Alatau City, which will feature digital infrastructure and cryptocurrency payment options. The city's population target is two million, with a focus on integrating modern technologies to enhance daily living.

Source šŸ”—