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The President of Kazakhstan calls for the enactment of a national law on cryptocurrency reserves and digital assets by 2026.
Kazakhstan President Kassym-Jomart Tokayev has just announced a plan for the development of artificial intelligence and digital assets, prominently featuring the establishment of a strategic cryptocurrency reserve fund. He urged the government to quickly build a complete digital asset ecosystem, while assigning the Financial Market Management and Development Agency to draft related laws before 2026.
The reserve fund will be managed by the Investment Corporation of the Central Bank, focusing on accumulating potential digital assets to form a strategic reserve source. This move comes after information that Kazakhstan is considering using confiscated digital assets to establish a fund.
At the same time, the government is also promoting the "CryptoCity" project in Alatau, which will allow payments in cryptocurrency and become the first digitalized urban area in the region. Kazakhstan is currently one of the largest Bitcoin mining centers in the world due to cheap electricity and an open policy.