Kazakhstan Plans to Invest Gold and Foreign Exchange Reserves and National Fund Assets in Crypto Assets

According to local media Kursiv, Timur Suleimenov, Governor of the National Bank of Kazakhstan, stated that the country plans to invest its gold and foreign exchange reserves and national fund assets in crypto assets. He said that Kazakhstan has alternative investment portfolios for gold and foreign exchange reserves and national funds, and adopts aggressive strategies to obtain higher returns. It has also studied the experience of Norwegian, American, and Middle Eastern funds, some of which directly invest in crypto assets, and some invest in related ETFs and stocks, but on a small scale. The central bank "does not rule out" investing some of the alternative investment portfolio funds of its gold and foreign exchange reserves in crypto industry-related funds. He cautioned that such assets have high returns but also high volatility, and should not be rushed. In addition, Kazakhstan hopes to establish a national crypto asset reserve to store confiscated digital assets. If enterprises mine on behalf of the country, some assets can be included in the reserve through taxes and other forms, and there are similar practices in the world. [Foresight News]