Kazakhstan Sets Up National Cryptocurrency Reserve Fund with International Assets

Kazakhstan’s central bank is developing a national cryptocurrency reserve fund, targeting an investment range of $500 million to $1 billion. This fund will be constructed using assets recovered from international sources through law enforcement actions. Governor Timur Suleimenov stated that investments will encompass exchange-traded funds (ETFs) and stocks in companies related to digital currencies. Suleimenov expressed a cautious approach toward direct cryptocurrency investments, emphasizing his optimism for the fund’s launch by year-end or early next year, with all stakeholders ready to proceed.