The National Bank of Kazakhstan plans to create a state reserve in bitcoin
Date: 2025-07-01 Author: Gabriel Deangelo Categories: IN WORLD
The head of the National Bank of Kazakhstan Timur Suleimenov said that the agency supported the proposal of deputies to create a state reserve in cryptocurrency. Now experts are working on developing a concept that will determine the rules for the formation and management of this new asset. Among the options being considered is the launch of a separate subsidiary of the National Bank, which will be engaged in investments in alternative instruments, including digital currencies.
The possibility of replenishing the reserve at the expense of cryptocurrencies seized by the state, as well as assets mined within the framework of national mining projects, is being considered. In order to legitimize such operations, it will be necessary to amend the existing legislation and develop new rules governing the storage and use of digital funds.
Particular attention is paid to studying foreign experience in the management of sovereign funds so that when creating a reserve, Kazakhstan takes into account the best international practices. The priority is the transparency of operations, the security of assets and their reliable storage.
As Suleimenov explained, consultations with parliamentarians on the preparation of the legislative framework are ongoing. The parliament emphasizes that at the moment there is no clear mechanism for storing crypto assets seized in criminal proceedings. The lack of regulated procedures creates the risk of loss or illegal turnover of such funds.
In response to these challenges, deputies proposed creating a centralized state storage of digital assets under the management of the National Bank. This structure should guarantee control over the safety of seized cryptocurrencies before they are used or sold within the framework of established procedures.
In addition to plans to form a reserve, the National Bank previously presented a pilot project related to the issuance of cryptocurrency cards. With their help, citizens of Kazakhstan will be able to make non-cash payments using digital assets stored in wallets linked to crypto exchanges licensed by the Astana International Financial Center.
Thus, Kazakhstan is taking a serious step towards developing its infrastructure in the field of cryptocurrencies and digital investments, striving to create a reliable system for managing and storing such assets at the state level.
