Kazakhstan To Create National Crypto Reserve Using Seized And State-Mined Coins
2025-06-30 19:58:00
Main Idea
Kazakhstan's National Bank is developing a national crypto reserve using seized assets, aiming to mitigate volatility and security risks while expanding the country's involvement in the crypto industry.
Key Points
1. Kazakhstan is formulating rules for a national crypto reserve, potentially managed by a specialized subsidiary, following sovereign-wealth best practices.
2. The initiative aims to protect the reserve from market volatility and security breaches, acknowledging crypto's inherent risks.
3. Kazakhstan controls about 13% of the global Bitcoin hashrate and plans to launch 'CryptoCity' to further integrate into the crypto industry.
4. National crypto reserves are gaining global traction, with Texas also authorizing a state-managed Bitcoin reserve.
5. The move aligns with broader trends of state-level crypto adoption, though details on the reserve's target size remain undisclosed.
Description
Kazakhstan’s National Bank is actively developing a framework to establish a state cryptocurrency reserve, financing the initiative with assets confiscated in criminal cases and coins mined by state-owned operations. The nation’s central bank governor, Timur Suleimenov, stated that the reserve could be managed by a specialized subsidiary focused on alternative investments, according to a report by the government news agency Kazinform . Kazakhstan is formulating rules that follow sovereign-wealth...
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