[Kazakhstan President Proposes Establishing a National Digital Asset Fund to Promote Cryptocurrency Reserve Strategy]
Kazakhstan President Kassym-Jomart Tokayev has proposed the establishment of a National Digital Asset Fund under the National Bank's investment company to accumulate strategic cryptocurrency reserves and adapt to the evolving financial landscape. He instructed the government and the National Bank to develop an investment plan of up to $1 billion aimed at fostering growth in high-tech sectors. The president also emphasized the necessity of developing new tools to inject bank liquidity into the economy and called for the formulation of new banking laws to enhance market competitiveness, attract new participants, promote fintech development, and regulate the circulation of digital assets.
Additionally, he mentioned the launch of the digital tenge, the national digital currency, which has already been used for project financing within the national fund, and urged the acceleration of building Kazakhstan's digital asset ecosystem.
