Kazakhstan plans to establish a $500 million to $1 billion crypto asset reserve fund, which will officially launch by the end of this year or January next year
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Kazakhstan plans to establish a $500 million to $1 billion crypto asset reserve fund, which will officially launch by the end of this year or January next year
According to Bloomberg, Kazakhstan is establishing a national cryptocurrency reserve fund worth between $500 million and $1 billion, with part of the funding coming from assets seized overseas and repatriated. Central bank governor Timur Suleimenov said the fund's investments will include exchange-traded funds (ETFs) and stocks of companies involved in cryptocurrency businesses. In an interview, he stated the fund would be "very cautious about directly holding cryptocurrencies." Suleimenov added that the fund is expected to officially launch by the end of this year or January next year.
Navigating Web3 tides with focused insightsTechFlow news, November 7 — According to Bloomberg, Kazakhstan is establishing a national cryptocurrency reserve fund worth between $500 million and $1 billion, with part of the funding sourced from assets seized overseas and repatriated.
Central bank governor Timur Suleimenov said the fund's investments will include exchange-traded funds (ETFs) and stocks of companies involved in digital currency businesses. In an interview, he stated the fund would be "very cautious about directly holding cryptocurrencies." Suleimenov revealed that the fund is expected to officially launch by the end of this year or in January next year.
