The National Bank of Kazakhstan is exploring the possibility of forming a state cryptocurrency reserve, which could become an important element of the country’s financial stability. The head of the National Bank, Timur Suleimenov, reported that the current focus is on developing a concept and studying all aspects of creating such a reserve.
This is reported by Finway
Potential Sources and Principles for Forming the Crypto Reserve
It is noted that one possible source for filling the reserve could be confiscated digital assets, as well as cryptocurrencies obtained by state miners. Management of this reserve is planned to be carried out through a specialized subsidiary of the National Bank, which will focus on alternative investments. At the same time, the management approach must be as prudent as possible and based on institutional principles.
The National Bank is analyzing international experience in creating sovereign crypto reserves to determine the optimal model. The main principles should include transparency in asset accounting, reliability of storage infrastructure, and centralized institutional management.
The Need for a Legislative Framework and Interagency Coordination
To launch the crypto reserve, separate legislation needs to be adopted. As Timur Suleimenov emphasized, it is necessary to define the legal status of the reserve, establish rules for its filling and the use of digital assets, and coordinate these issues with law enforcement and other interested agencies.
“The formation of such an instrument will be coordinated with law enforcement agencies and other interested departments,” emphasized the head of the regulator. A decision on its creation has not yet been made — discussions are currently at the conceptual development stage.”
In addition, in May 2025, Kazakhstan announced the creation of an experimental zone called CryptoCity, where the use of cryptocurrencies for purchases, payment for services, and other civil transactions is permitted. This project will be part of the strategy for developing digital assets in the country.
Recently, Kazakhstan also announced the launch of crypto cards integrated into the financial infrastructure of the Astana International Financial Centre. These will be linked to wallets of European cryptocurrency exchanges and will allow payments with digital assets for goods and services.
At the same time, the country continues to work on the legalization of crypto exchanges and the implementation of comprehensive regulation of digital assets, which is expected to strengthen Kazakhstan’s position in the field of digital finance.