Kazakhstan is shifting its policy, beginning to view cryptocurrency as a strategic asset in national reserves.
The country has moved from imposing strict regulations on cryptocurrency mining to integrating cryptocurrency into its sovereign wealth fund and national foreign exchange reserves.
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Kazakhstan considers incorporating cryptocurrency into its sovereign wealth fund, drawing inspiration from the funds of Norway, the United States, and the Middle East.
The country is developing the management infrastructure for cryptocurrency assets and taxing cryptocurrency mined by state-owned enterprises.
The 'CryptoCity' project is designed to test cryptocurrency payments in an environment with clear legal controls.
How is Kazakhstan implementing its strategy to integrate cryptocurrency into national reserves?
According to Timur Suleimenov, Chairman of the Central Bank of Kazakhstan, the country has studied the experiences of the sovereign funds of Norway, the United States, and the Middle East to assess the suitability of incorporating cryptocurrency into its reserves.
Kazakhstan plans to allocate a portion of its gold and foreign exchange reserves, along with assets from the sovereign wealth fund, to investments related to cryptocurrency. This includes cryptocurrencies seized from law enforcement activities with a specialized management system to be established soon.
"We have considered the experiences of the Norwegian, American, and Middle Eastern funds, which have investments in cryptocurrency assets or ETFs, shares of companies related to cryptocurrency, although the scale is still quite small."
Timur Suleimenov, Chairman of the Central Bank of Kazakhstan, 7/2025
In addition, the Kazakh government is considering implementing a tax or mandatory contribution mechanism using cryptocurrency mined from state-owned enterprises. Regulations to strictly address cryptocurrency transactions outside licensed platforms are being developed alongside regulations to restrict cryptocurrency advertising to tightly control the market.
Why is Kazakhstan changing its approach to cryptocurrency?
Kazakhstan, which previously focused on controlling cryptocurrency mining due to concerns about energy consumption and taxation, is now approaching cryptocurrency in a more strategic manner to leverage new economic potential.
With the 57th position in the 2024 Global Cryptocurrency Adoption Index by Chainalysis, the country is not only developing infrastructure but also promoting policies towards legal interaction and cryptocurrency business. A statement from President Kassym-Jomart Tokayev introduced 'CryptoCity' as a pilot area for controlled cryptocurrency payments, clearly demonstrating the ambition to turn Kazakhstan into a key regional hub for cryptocurrency mining and investment.
What other initiatives does Kazakhstan have related to cryptocurrency?
In addition to expanding the asset portfolio for the sovereign wealth fund, Kazakhstan is also building 'CryptoCity' – a testing area aimed at developing cryptocurrency payments with strict legal regulations. This project creates a safe environment for businesses and cryptocurrency users to thrive alongside state control.
Clear policies and the increasing involvement of national financial institutions place Kazakhstan in a position to become a pillar in the global cryptocurrency mining and investment sector.
"The development of the CryptoCity area is an important step to facilitate safe, legal, and regulated cryptocurrency activities."
President Kassym-Jomart Tokayev, 2025
What legal activities is Kazakhstan implementing to control the cryptocurrency market?
Kazakhstan is completing its legal framework, clearly defining the legal consequences for cryptocurrency transactions outside licensed platforms while prohibiting rampant cryptocurrency advertising, aiming to minimize risks and fraud in the market.
These regulations help ensure transparency, protect investors, and build a healthy cryptocurrency market, aligning with international asset governance trends and commitments to sustainable development in the region.
Frequently Asked Questions
When did Kazakhstan start investing in cryptocurrency? Kazakhstan officially began considering cryptocurrency investments in its sovereign wealth fund and national reserves from 2025, based on the experiences of countries like Norway and the United States. What is Kazakhstan's CryptoCity? CryptoCity is a pilot area developed by the government to test cryptocurrency payments under a clear legal framework to promote the development of legal cryptocurrency. How does the Kazakh government control cryptocurrency? The country tightens regulation by requiring transactions on licensed exchanges, strictly handling off-regulation transactions, and restricting cryptocurrency advertising. Will cryptocurrency become an official reserve asset in Kazakhstan? Kazakhstan is testing and considering incorporating cryptocurrency into its national reserves; however, this is still in the stage of building and developing the management infrastructure. What is the impact of the new policy on Kazakhstan's cryptocurrency market? Clear policies and investment in infrastructure help the cryptocurrency market develop steadily, increase competitiveness, and attract international investors.
Source: https://tintucbitcoin.com/kazakhstan-vuot-my-na-uy-ve-crypto/
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