Add cryptocurrencies 🪙 to the National Treasury
The National Bank of Kazakhstan plans to integrate cryptocurrencies into sovereign reserves starting in early 2025
• President Timur Suleimenov will oversee the allocation of gold and foreign currency reserves to digital assets
• The initiative aims to diversify state holdings and position Kazakhstan in the trend of institutional adoption of cryptocurrencies
Key Factors Behind the Move
• Strategic diversification against the risks of currency depreciation
• Use of confiscated digital assets and state-backed mining operations
• Development of the regulatory zone CryptoCity as regulation against unauthorized exchanges intensifies
• Creation of a specialized subsidiary to manage alternative investments
