Exploring Cryptocurrency Investments in Kazakhstan
During a recent meeting in Kazakhstan’s lower legislative body, Berik Sholpankulov, the Deputy Governor of the National Bank of Kazakhstan, revealed that the central bank is exploring the idea of investing some of the country’s government-controlled funds, as well as segments of its gold reserves and foreign exchange holdings, into cryptocurrencies.
Plans for a National Cryptocurrency Reserve
Responding to lawmakers’ questions about the management of national reserves and the prospect of trading digital currencies for profit, Sholpankulov detailed the government’s plans to create a national cryptocurrency reserve.
He noted that assets acquired through criminal proceedings will form the core of this new reserve, ensuring that they are held strategically.
Furthermore, Sholpankulov indicated that the government is evaluating other potential funding avenues to bolster this reserve, which may involve allocating portions of the national fund alongside the country’s gold and foreign exchange assets for investments in digital currencies.
This development comes amidst a broader global trend of increasing interest in cryptocurrencies as legitimate investment vehicles.
