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Kazakhstan’s National Bank is exploring a bold proposal to include cryptocurrencies—sourced from law-enforcement seizures and state-backed mining—within its sovereign reserve framework, signaling the nation’s ambition to deepen its crypto integration.
What’s the Scoop?
- Strategic Crypto Allocation: Governor Timur Suleimenov revealed the bank is considering adding crypto to “aggressive sub-portfolios” alongside traditional FX and gold reserves.
- Reserve Sources Defined: The planned crypto reserve would be funded through seized digital assets and coins mined by state-supported firms.
- Institutional Oversight: Kazakhstan intends to manage this new reserve via a dedicated subsidiary, ensuring centralized custody, transparent accounting, and risk controls.
- Tightening Regulations: Alongside reserve creation, authorities are restricting crypto trading to licensed exchanges within the Astana International Financial Centre, and imposing penalties on unregulated activity.
