Kazakhstan’s central bank to bolster national crypto reserves with criminals’ Bitcoin – DL News
- Central bank earmarks $350 million for initial investment.
- Bank will trade gold and foreign currency for crypto.
- President calls for crackdownon illegal crypto exchanges.
The National Bank of Kazakhstan’s investment arm has announced plans to boost its new national crypto reserve with coins seized from criminals.
National Investment Corporation, or NIC, the central bank’s investment subsidiary, said the bank will use “crypto seized by law enforcement agencies,” along with foreign currency and gold reserves, to beef up the fund, the Russian-language media outlet QAMS QazTrading reported.
The bank has already earmarked $350 million worth of overseas currency and gold for the fund, the corporation’s head, Timur Suleimenov, told media…
