Kazakhstan Announces National Cryptocurrency Reserve with $700 Million Investment

The National Bank of Kazakhstan has revealed plans to create a national cryptocurrency reserve, which will be invested in digital assets worth up to $700 million. According to the bank's representatives, the reserve will include derivatives on cryptocurrencies, as well as stocks and shares of companies involved in digital asset development and investment.

The management of the portfolio will be handled by a state-owned investment corporation called the 'National Investment Corporation', while the custody and accounting of digital assets will be carried out by the Central Securities Depository.

It is worth noting that the reserve has not yet been formed, as the government is still preparing the legislative framework for its management and the permitted level of risk.