Kazakhstan’s sovereign wealth fund is reportedly considering cryptocurrencies as a legitimate asset class for its national reserves. The central bank is looking to adopt strategies similar to those of Norway, the U.S., and the Middle East. According to local media, the country 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. Additionally, Kazakhstan aims to create a national crypto asset reserve using digital assets seized by law enforcement. In related news, Bitcoin's creator, Satoshi Nakamoto, has reportedly become the 11th richest person globally, with holdings valued at over $131 billion. Meanwhile, Bank of England Governor Andrew Bailey has raised concerns about the risks posed by stablecoins, suggesting that the central bank should consider tokenized deposits instead. Read more AI-generated news on: https://app.chaingpt.org/news

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