National Bank of Kazakhstan Backs Parliamentary Proposal for State Crypto Reserve

The National Bank of Kazakhstan has endorsed a parliamentary initiative to establish a national crypto-asset reserve, with development already underway to determine its management and structure. Chairman Timur Suleimenov suggested housing the reserve in a subsidiary specializing in alternative investments, citing international precedents where confiscated crypto-assets and government-mined cryptocurrencies could serve as funding sources.

Legal adjustments will be necessary to define the reserve's status and operational procedures. Suleimenov emphasized the bank's readiness to collaborate on drafting the required framework. Concurrently, the National Bank is advancing a draft law on artificial intelligence, which will impose administrative and criminal penalties for unregulated crypto transactions.

Kazakhstan currently restricts cryptocurrency trading to approved platforms within the Astana International Financial Centre (AIFC), reinforcing its controlled approach to digital asset markets.