Kazakhstan is on the verge of serious financial changes. After experimenting with cryptocurrencies, the National Bank plans to create a state reserve of cryptocurrency assets. This is a move aimed at embedding digital assets into the foundation of the country's financial system.
From idea to plan: The National Bank has not just approved this idea, but is already actively developing how this reserve will be organized. Experts are now actively looking for answers to key questions: which crypto assets will be included in the reserve, how to protect them from hackers, and who will manage this digital money? Most likely, this will be handled by a subsidiary of the National Bank, which has experience in complex investments.
Where can I get a crypt for a reserve? The head of the National Bank, Timur Suleimenov, named two main sources. The first is the confiscated cryptocurrency. The second is assets obtained from government mining.
It turns out that the fight against cryptocrime and government mining are becoming important ways to replenish the country's digital capital.
But in order for all this to work, the laws need to be seriously redone. A lot of work remains to be done to make changes that will determine the status of the reserve, the rules for its replenishment and use, as well as guarantees for the safety of funds. The National Bank says it will not reinvent the wheel, but will take as a basis the proven international standards for managing sovereign funds, where transparency and security are the main thing.
There is a lot of work and risks ahead, but the course has been chosen: from trial steps to the full integration of cryptocurrencies into the financial strategy of Kazakhstan.