Kazakhstan Plans National Cryptocurrency Reserve Fund with International Assets

According to PANews, Kazakhstan is in the process of establishing a national cryptocurrency reserve fund valued between $500 million and $1 billion, utilizing assets seized and recovered from abroad. Timur Suleimenov, the governor of Kazakhstan's central bank, stated that the fund's investments will include exchange-traded funds (ETFs) and stocks of companies involved in digital currencies. In an interview with Bloomberg in London on Wednesday, Suleimenov emphasized a cautious approach to direct cryptocurrency investments. He expressed optimism that the fund could be operational by the end of this year or January next year, noting that all parties are prepared. Previously, Kazakhstan announced the launch of a national cryptocurrency reserve fund, with an initial investment in BNB. The central bank is also considering using gold and foreign exchange reserves to purchase cryptocurrencies.