Kazakhstan’s central bank is exploring the creation of a state-managed cryptocurrency reserve, signaling a broader push to integrate digital assets into the country’s financial infrastructure.
The move was confirmed in a government statement and echoed by National Bank Chairman Timur Suleimenov, who emphasized that centralized oversight would help manage crypto’s volatility and risks.
According to local media outlet Kazinform, the reserve may be backed by digital assets seized from enforcement actions and proceeds from government-led crypto mining. A May 22 parliamentary briefing showed clear support from the National Bank, which proposed managing the reserve through a specialized subsidiary focused on alternative investments.
The initiative is part of a larger trend in Kazakhstan, which has shown growing interest in blockchain. In May, President Kassym-Jomart Tokayev announced “CryptoCity,” a pilot project allowing digital assets to be used for everyday payments. Meanwhile, regulators are also tightening control, shutting down dozens of illegal exchanges in a bid to combat financial crime.
Globally, state-backed crypto reserves are gaining traction. Texas recently authorized a strategic Bitcoin reserve, and calls for similar initiatives have emerged in India and within segments of the U.S. government, including the military. While most focus primarily on Bitcoin, Kazakhstan’s approach may incorporate a broader range of assets, making it one of the most comprehensive national experiments in crypto reserve strategy to date.
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Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/kazakhstan-eyes-national-crypto-reserve-to-boost-oversight-and-innovation/