By Felix, PANews

Timur Suleimanov, governor of the Central Bank of Kazakhstan, said on March 6 that the central bank plans to use some of its gold and foreign exchange reserves to invest up to $350 million in the crypto asset sector.

Although the specific asset classes and timelines for the investments have not yet been disclosed, according to Aliya Moldabekova, Deputy Governor of the Central Bank of Kazakhstan, the investments will begin in April or May.

The initial allocation during the trial period accounted for 0.5% of the reserves.

Despite its high-profile announcements of purchases, Kazakhstan has consistently demonstrated a cautious approach to its national reserve program for crypto assets.

The process of even considering its…