[Kazakhstan President Proposes Establishing National Digital Asset Fund] On September 8, news from Astana Times reported that Kazakhstan President Kassym-Jomart Tokayev emphasized the importance of attracting capital into the high-tech sector, directing the government and the national bank to formulate an investment plan worth up to 1 billion USD to promote technological development. Additionally, he proposed the establishment of a national digital asset fund under the national bank's investment company, which will accumulate strategic cryptocurrency reserves, incorporating promising digital assets into the ever-evolving financial landscape. He urged the development of new tools to inject bank liquidity into the economy and stressed the necessity of formulating new banking laws. The proposed legislation aims to enhance competition, attract new market participants, strengthen fintech development, and liberalize the circulation of digital assets. He emphasized the need to accelerate the construction of a comprehensive digital asset ecosystem in Kazakhstan. He mentioned the launch of the digital tenge, which has been used for project financing through the national fund.
