Today, local media I mentioned Kazakhstan is considering investing its national reserves, including gold and foreign currency, in Bitcoin and other encrypted currencies.
According to a translation of the English language, the country’s national bank president, Timor Soliminov, said, “We have an alternative portfolio for our gold and external reserves in currencies, and an alternative portfolio of the National Fund, and there, we use aggressive strategies to generate higher investment returns. Corporate shares closely related to encryption assets.
The goal is to enhance returns through more aggressive strategies. Soleimenov confirmed that no final decision was taken, warning of the volatility of the encryption assets. He added: “This is not a simple question, so one should not speed up here. Yes, these assets can bring high returns, but at the same time, it is characterized by high fluctuations.”
In addition to potential investments, the National Bank is also submitted to the creation of the Bitcoin and Crypto Reserve, which was first announced on June 30. This reserve will store the digital assets confiscated by law enforcement, with a separate infrastructure created for its management.
Soliminov also said that if the Bitcoin -backed state institutions and encryption can be collected, part of these assets can be collected as mandatory taxes or contributions to the Bitcoin and National Crypting Reserve, in the wake of other countries.
Earlier, the local media reported that Kazakhstan is preparing to provide administrative and criminal sanctions for irregular bitcoin transactions. Currently, only Bitcoin and Crypto are only allowed to circulate on stock exchanges within the ASTana International Financial Center (AIFC). The National Bank is also planning to restrict the advertisement of digital assets.
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