Kazakhstan to Move Reserve Wealth Into Crypto — Which Countries Showed Them the Way?

Key Points

1. Kazakhstan studied global sovereign funds' crypto investments, including those from the US, Norway, and the Middle East, before deciding on its own exposure.

2. The country plans to fund its crypto reserve through state mining operations and seized crypto holdings.

3. Kazakhstan's crypto ambitions include tightening oversight on unlicensed activities, with new regulations proposed to control grey market assets.

4. The country became a significant player in Bitcoin mining after Chinese miners relocated there in 2021, handling over 27% of global mining activity at its peak.

5. Despite its crypto push, Kazakhstan remains cautious about volatility and regulatory risks.