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Kazakhstan Announces National Digital Asset Fund and ’CryptoCity’ in Alatau
Kazakhstan Announces National Digital Asset Fund and ’CryptoCity’ in Alatau
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BTCCSquare news:
Kazakhstan President Kassym-Jomart Tokayev unveiled plans for a National Digital Asset Fund and a cryptocurrency-enabled 'CryptoCity' in Alatau during his annual address. The state-backed fund, managed by the Investment Corporation of the National Bank, will build a strategic reserve of high-potential digital assets to bolster the country's digital financial system.
Tokayev emphasized the need for comprehensive digital asset legislation, directing the Agency for Regulation and Development of the Financial Market to draft a law by 2026. The framework aims to regulate cryptocurrency use, investment, and oversight, fostering investor confidence and economic growth.
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