Kazakhstan plans to incorporate cryptocurrency into its national reserves, accelerating the strategic layout of digital assets

The National Bank of Kazakhstan (NBK) is actively exploring the feasibility of incorporating cryptocurrency into the country's sovereign and foreign exchange reserves. This move could make Kazakhstan the first Central Asian country, following others, to include #加密货币 in its official reserves, thereby entering the international reserve competition.

NBK President Timur Suleimenov revealed at a recent press conference that the bank is studying the experiences of the Norwegian sovereign fund, American, and Middle Eastern investment institutions, which have optimized their portfolios through direct investments in cryptocurrencies or related ETFs.

Although Suleimenov acknowledged the high return potential of crypto assets, he also emphasized the need to prudently assess their volatility risks. He stated that this is not a topic to be decided hastily; we must seek a prudent balance between returns and risks.

In addition, Kazakhstan plans to establish a national compulsory fund to manage the cryptocurrency assets seized by law enforcement officials. This compulsory fund will also acquire more cryptocurrency assets through legal mining operations. The country also intends to stipulate that all cryptocurrency transactions must be conducted on exchanges recognized by the Astana International Financial Centre (AIFC).

It is reported that Kazakhstan has been engaged in cryptocurrency mining since 2017, and despite the fact that cryptocurrencies were not designated as legal tender at that time, the government actively promoted the development of the industry.

In 2020, the country's President Tokayev announced a plan aimed at strengthening infrastructure, making Kazakhstan a leader among neighboring countries, and attracting $1.2 billion in investment over five years. By 2021, Kazakhstan had risen to become the world’s second-largest Bitcoin hash rate producer.

Despite significant progress in the field of cryptocurrency mining, the 2024 Global Cryptocurrency Adoption Index shows that the country ranks only 57th in terms of adoption rates on the retail end, indicating that the application of cryptocurrencies in the retail sector still needs to be strengthened.

Overall, #哈萨克斯坦 on one hand sets industry benchmarks through national-level pilot programs (such as sovereign reserves and crypto cities), and on the other hand controls risks through a strict exchange licensing system. This “officially led + gradually open” model may provide a new paradigm for resource-rich countries exploring digital economic transformation.