The Central Bank of Kazakhstan will establish a national-level Crypto Assets reserve sourced from seized assets and state-owned Mining Farms.

[Block Rhythm] On June 30, it was reported that the Governor of the Central Bank of Kazakhstan, Timur Suleimenov, stated that the country plans to establish a national encryption currency reserve, funded by digital assets seized from cases and tokens mined from state-owned Mining Farms. The reserve will be managed by an agency affiliated with the Central Bank, adopting a sovereign wealth fund operation model, including a single manager structure and a transparent auditing mechanism.

It is reported that Kazakhstan currently accounts for 13% of the global Bitcoin mining power share. After a power shortage in 2022, a licensing system for miners was implemented, and illegal mining machines worth nearly 200 million dollars were seized. This move makes it another national entity to lay out reserves of crypto assets, following several states and enterprises in the United States. The specific implementation framework is still being developed, and the scale and start time of the reserves have not yet been announced.