Establishing Kazakhstan, a national encryption reserve star-news.press/wp

The National Bank of Kazakhstan is planning to create a state coded currency reserve, according to a report issued by the government news agency Kazinform.

Local authorities are studying the development of the Tasfir Reserve, which will follow international practices. The report said that these reserves are likely to be funded with the exported digital assets and the state -run encryption operations.

The Chairman of the Board of Directors of the National Bank of Kazakhstan, Timor Soliminov, admitted the volatility and risk associated with encryption assets. He said that the status of the reserve is under the control of a central institution that would guarantee proper supervision and risk management.

A answer From the National Bank to a parliamentary investigation on digital assets, on May 22, he also said that the Central Bank supported the establishment of a state -by -managed coding reserve. The document suggested that it can be managed by a subsidiary of the National Bank specializing in alternative investments.

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Kazakhstan bet on encryption

This is the latest in a series of reports related to the adoption of Kazakhstan cryptocurrency. In May, President Casem Gomart Tukayev announced plans to launch “Cryptocity”, a experimental area where cryptocurrencies can be used to pay the price of goods and services.

Kanch Toulion, Senior Deputy Minister of Digital Development in Kazakhstan, said in May that with the facilitation of organization, the country could become a pioneering coding center in Central Asia.

At the same time, the authorities are following a strict enforcement, as the campaign appears on 36 illegal exchanges in the cryptocurrency in 2024. Officials said the campaign aimed at limiting money laundering and enhancing financial supervision.

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National encryption reserves grow in popularity

The country’s coded currency reserves are gaining popularity around the world, although these initiatives are usually Bitcoin (BTC) as an option. Last week, Bradip Handari, a spokesman for the ruling Bharatia Gatata Party in India, called for a bitcoin reserve and clarity regarding the country’s encryption approach.

Earlier this month, the Texas Governor Greg Abbott signed a draft law that officially allowed the establishment of the Bitcoin Strategic Reserve in Texas. Both initiatives follow the American Bitcoin Strategic Reserve.

The United States also sees an increasing momentum behind this idea. American Senator Centeh Lomes recently said that some sections within the US military support the idea of ​​the National Bitcoin reserves to alleviate the threats of economic war.

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