Johann Wilfred
Kazakhstan will now set up an official crypto state reserve as per a June 30, 2025, update by Kazinform News Agency. Comments from National Bank of Kazakhstan, Timur Suleimenov, show that the government is considering the matter.
Kazakhstan’s National Bank plans to follow internationally accepted methods of sovereign fund management, principles of transparency of accounting, and transparency relating to the storage of crypto assets. The bank also aims to follow the internationally accepted practice of taking expropriated crypto funds and crypto created by mining operations.
An earlier report on May 22 showed the government was moving towards establishing a more crypto-suitable framework, with interested government agencies proposing legislative amendments.
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Timur Suleimenov also added that the volatility associated with cryptocurrency assets will be managed. Methods to further develop the crypto reserve will be done in collaboration with law enforcement agencies and relevant state organizations.
Kazakhstan’s partnership with Changpeng Zhao
Kazakhstan has previously been identified as a region advantageous for crypto ventures, particularly Bitcoin mining, due to the low electricity prices. The country legalized cryptocurrency mining in 2020 due to the boom in mining operations at the time. Initially, the Chairman of the National Bank of Kazakhstan considered banning all cryptocurrencies in 2018.
The country also has a key partnership in place with Binance, when co-founder Changpeng Zhao visited President Kassym-Jomart Tokayev in 2022. A blockchain education program was set in place with the goal of reaching 40,000 people by 2026.
