Kazakhstan President Proposes National Crypto Reserve

Kazakhstan is doubling down on digital assets. In his annual address, President Kassym-Jomart Tokayev laid out a bold strategy that includes creating a national cryptocurrency reserve and fully digitalizing a city to support crypto payments.

A Strategic Crypto Reserve in the Works

Tokayev urged lawmakers to move quickly. He called for a “full-fledged ecosystem of digital assets” to be built out as soon as possible. According to the president, this ecosystem will help return idle bank capital to productive use.

To achieve this, Tokayev has asked the Agency for Regulation and Development of the Financial Market to draft a crypto-focused bill. The goal is to pass it before 2026.

But perhaps the most headline-worthy proposal came next. Tokayev wants to form a State Fund of Digital Assets. This fund, he said, would fall under the National Bank’s Investment Corporation and hold a strategic crypto reserve. The reserve would include promising assets from the emerging digital financial system.

Notably, this isn’t the first time Kazakhstan has explored the idea. Two months ago, local reports indicated that the National Bank was already considering building a reserve using seized crypto assets.

This strategy mirrors a growing global trend. Countries like Brazil and Indonesia have also begun exploring sovereign crypto reserves. Meanwhile, the U.S. under President Trump issued an executive order to include Bitcoin and other digital assets in its national reserves.