Kazakhstan's National Bank forms $700 million crypto reserve

The National Bank of Kazakhstan has formed a National Crypto Reserve with a total volume of $700 million, of which about $200 million has already been invested. First Deputy Chairman of the National Bank Yerulan Zhamaubayev announced this, according to 24KZ.

Zhamaubayev said that comprehensive regulation of digital asset turnover has recently been introduced in Kazakhstan and a corresponding law has been adopted. Under a Presidential Decree on developing the crypto industry, the National Bank, together with the Government, adopted a Joint Action Plan.

According to him, a digital platform for issuing and servicing operations with digital financial assets has been launched on the basis of the Kazakhstan Stock Exchange. Four licensed crypto providers are currently operating.