Kazakhstan’s government is considering converting a portion of its National Fund assets to fund a cryptocurrency reserve. This initiative, reported by The Times of Central Asia, involves allocating funds from the country’s gold and foreign exchange reserves, aiming for a potential investment of between $500 million and $1 billion. Deputy Chairman of Kazakhstan’s National Bank, Berik Sholpankulov, stated that the fund is expected to launch by year-end or early next year. He further outlined plans to utilize confiscated assets, transferred into a state-managed digital asset fund, as part of this reserve strategy. Notably, he also proposed allowing state-owned entities to provide energy to private cryptocurrency mining companies in exchange for cryptocurrency. Kazakhstan’s government is exploring various crypto initiatives, including a state-backed crypto reserve established alongside Binance in September, the launch of the first BNB in its portfolio, and recently shut down 130 platforms linked to money laundering for seized assets worth $16.7 million in cryptocurrency. The country’s President, Kassym-Jomart Tokayev, advocates for a robust digital asset ecosystem and encourages regulatory efforts to integrate crypto into the nation’s economic framework. Kazakhstan is also piloting a central bank digital currency alongside a stablecoin project with Solana and Mastercard.