Kazakhstan plans to set up a state crypto reserve

Kazakhstan announced that it would set up a state crypto reserve, as the Chairman of the National Bank, Timur Suleimenov, explained to a request from Parliament.

This decision is to be made on the basis of international best practices and to ensure stability and transparency in dealing with crypto-assets.

Kazakhstan plans crypto reserve

Laut The Kazinform International News Agency is currently working on a concept for a state crypto reserve. This includes the development of the crypto reserve based on a subsidiary of the National Bank

The institution relies on proven international methods of the management of the state fund, including the administration of crypto reserves. An essential aspect of this reserve will be the transparency of the bookkeeping and the storage of crypto assets.

Suleimenov explained that the reserve supported both from confiscated crypto assets and from state Mining-Perosen will exist. He particularly emphasized that a central institutional administration of the crypto reserve was necessary to ensure safety and stability. This is necessary due to the volatile nature of the crypto-assets and the associated risks.

The decision to create a state crypto reserve is part of a more comprehensive plan of the Kazakh government. Your project is to regulate the crypto sector in the country and ensure that Cryptocurrencies be used in a legally well -founded manner.

In the past, Kazakhstan had already announced that Cryptocurrencies To regulate more and the creation of a central reserve represents a further step in this process. This development shows that the crypto market is increasingly becoming the focus of state institutions that are looking for ways to integrate this market sustainably and securely.