The Kazinform report on Monday showed that the Kazakhstan State Bank plans to establish a state-managed cryptocurrency protected area.
Local authorities are studying the development of crypto protected areas, which will follow international practices. Typically, such reserves may be funded with requisitioned digital assets and state-run crypto mining operations, the report said.
Timur Suleimenov, chairman of the State Bank of Kazakhstan, acknowledged the volatility and risks associated with crypto assets. He said placing reserves under the control of centralized agencies will ensure proper oversight and risk management.
one reply The parliamentary inquiry from the National Bank to the digital assets on May 22 also stated that the central bank supports the establishment of state-owned crypto protection zones. The document suggests that it can be managed by a subsidiary of the State Bank specializing in alternative investments.
Related: Despite IMF transactions
Kazakhstan bet on cryptocurrency
This is just the latest in a series of reports on Kazakhstan’s adoption of cryptocurrency. May, President Kassym-Jomart Tokayev Announces the launch of “crypto” plan, A pilot area where cryptocurrency can be used to pay for goods and services.
Kazakhstan’s first deputy minister for digital development, Kanysh Tuleushin Become a leading crypto-hub In Central Asia.
At the same time, authorities are pursuing stricter law enforcement, such as Suppress 36 illegal cryptocurrency exchanges 2024. Officials said the crackdown aims to curb money laundering and strengthen financial oversight.
Related: Crypto Asset Reserve Bills in Ukrainian Parliament
National crypto reserves grow in popularity
State-owned national cryptocurrency protection zoneAlthough these moves usually only consider Bitcoin (althoughBTC) option. Last week, Pradeep Bhandari, spokesman for the Indian Ruling BJP Party, Ask for Bitcoin Reserve Pilot And be clear about the country’s encryption method.
Earlier this month, Texas Governor Greg Abbott officially signed a bill Create a Texas Strategy Bitcoin Reserve. These two measures Follow the US strategy Bitcoin reserves.
The United States also sees the driving force behind this idea. U.S. Senator Cynthia Lummis recently said some divisions from the U.S. military Ideas to support national Bitcoin reserves Reduce the threat of economic war.
Magazine: The U.S. has the potential to “go forward” on Bitcoin reserves in other countries: Samson Mow
