Kazakhstan building national crypto reserve without taxpayer funds
“The Crypto Reserve will be formed by investing a portion of the National Bank’s gold and foreign exchange assets (up to $350 million), assets from the National Fund (up to $350 million), and other state assets as determined by the Government of Kazakhstan (including crypto assets confiscated in favor of the state). There are no plans to allocate budget funds to form the Crypto Reserve,” the National Bank’s stated in response to Qazinform’s official request.
It is reported that management of the reserve will be spearheaded by the National Investment Corporation of the National Bank. Meanwhile, the Central Securities Depository JSC will ensure the accounting and storage of the digital assets.
The assets of the…
