https://x.com/pete_rizzo_/status/1965023875617718724?t=nOgULWH7Jlboux_0f9YEJQ&s=19Kazakhstan to Establish State Bitcoin Reserve Fund.
Kazakhstan will establish a state digital asset fund to accumulate a strategic bitcoin reserve.
The digital tenge's adoption is expanding, with 257.5 billion digital tenge now in circulation.
New legislation will liberalize digital asset markets and enhance cybersecurity measures.
Kazakhstan is moving forward with plans to establish a state fund for digital assets, including bitcoin, under the investment corporation of the National Bank.
President Kassym-Jomart Tokayev announced the initiative as part of a suite of directives intended to accelerate the countrys digital asset ecosystem.
Focus on strategic reserves
The new State Digital Asset Fund will accumulate a strategic reserve of promising digital assets such as bitcoin, with oversight and risk management provided by central authorities.
This follows previous government support for managing seized bitcoin reserves and recent statements highlighting Kazakhstans advanced regulatory framework for digital assets.
https://bitbo.io/news/kazakhstan-bitcoin-reserve-fund/