Kazakhstan's sovereign wealth fund is considering cryptocurrencies as a legitimate asset class for its national reserves. The central bank is looking to adopt investment strategies similar to those of Norway, the U.S., and Middle Eastern countries. Reports from local media outlet Kursiv indicate that the nation plans to allocate a portion of its gold and foreign exchange reserves, along with assets from its sovereign wealth fund, into crypto-related investments. Timur Suleimenov, head of the National Bank of Kazakhstan, mentioned that the bank is pursuing aggressive strategies to enhance investment income, which may include crypto funds. He highlighted that other nations have invested in crypto assets or related exchange-traded funds. Additionally, Kazakhstan aims to create a national crypto asset reserve using digital assets seized by law enforcement. The government is also expanding its digital asset initiatives, including a pilot zone for crypto payments and the introduction of its central bank digital currency, the digital Tenge, to position itself as Central Asia's crypto hub. Read more AI-generated news on: https://app.chaingpt.org/news

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