TechFlow news — On July 14, according to Kazakh media Kursiv, Timur Suleimenov, Governor of the National Bank of Kazakhstan, said the country is considering investing part of its foreign exchange reserves and sovereign fund assets into crypto assets.
Suleimenov revealed at a press conference that Kazakhstan has an "alternative portfolio" within its foreign exchange reserves and sovereign funds, which could be used to implement more aggressive investment strategies. He noted that the country has studied the experiences of Norway’s fund, as well as U.S. and Middle Eastern funds, which have already directly invested in crypto assets or related ETFs and company stocks.
The central bank does not "rule out" allocating part of the alternative portfolio to funds linked to the crypto industry, but emphasized that this is a complex matter requiring caution, as such assets, while potentially offering high returns, are also highly volatile. Additionally, Kazakhstan plans to establish a national crypto asset reserve to store digital assets seized by law enforcement agencies, and may accept tax payments or mandatory contributions in the form of crypto assets.
