According to Foresight News, local media Kursiv reported that Kazakhstan's central bank governor Timur Suleimenov stated that the country plans to invest its gold foreign exchange reserves and national fund assets in cryptocurrency. He mentioned that Kazakhstan has a gold foreign exchange reserve and a national fund alternative investment portfolio, employing an aggressive strategy to achieve higher returns and has studied the experiences of Norway, the United States, and Middle Eastern funds. Some of these funds invest directly in cryptocurrency, while others invest in related ETFs and stocks, but on a smaller scale. The central bank does not rule out the possibility of directing some of the gold foreign exchange reserve alternative investment portfolio funds into cryptocurrency-related funds. He cautioned that while such assets can yield high returns, they also come with significant volatility and should not be rushed. Additionally, Kazakhstan aims to establish a national cryptocurrency reserve to store confiscated digital assets, and if enterprises representing the state mine, some assets could be incorporated into the reserve through taxation and other means, a practice already seen in the world.
Previously, on June 30, Suleimenov stated that Kazakhstan plans to establish a national cryptocurrency reserve, with funding coming from digital assets seized in cases and tokens mined from state-owned mining operations.
