The reserve may include confiscated assets or those mined by state-linked entities
Kazakhstan has been on the move to regulate the crypto ecosystem, where over 36 unlicensed exchanges were shut down recently
The country’s central bank launched a pilot where banks link retail crypto wallets to payment cards
The National Bank of Kazakhstan (NBK) just announced it’s studying the creation of a state crypto-reserve, possibly housed under a central bank affiliate. Reports suggest that it will adopt a sovereign-fund-style governance model, meaning transparency in accounting, secure custody, and sustainable allocation.
Moreover, the reserve may include confiscated assets or those mined by state-linked entities.
Kazakhstan’s plan for a sovereign crypto reserve
With the announcement, Kazakhstan joins a select group of countries, such as El Salvador and Bhutan, in crafting a government-controlled crypto asset reserve. With yet another country establishing a crypto reserve, this could be a sign of mainstream legitimacy.
Lately, Kazakhstan has been on the move to regulate the crypto ecosystem, where over 36 unlicensed exchanges were shut down. The country is …
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