Kazakhstan central bank to invest up to $350 million in crypto and digital asset markets

Kazakhstan's central bank has announced plans to allocate up to $350 million from its gold and foreign exchange reserves into investments linked to cryptocurrencies and digital assets. Governor Timur Suleimanov stated the bank is developing a list of acceptable investments, which will focus on areas beyond direct cryptocurrency holdings, such as shares of high-tech companies connected to digital assets, cryptocurrency infrastructure firms, and index funds tracking crypto markets. Deputy chair Aliya Moldabekova clarified that these investments, scheduled for April and May, represent a measured approach and a small fraction of the country's total reserves, which stood at $69.4 billion as of February 1st. Kazakhstan has become a significant hub for Bitcoin mining following China's 2021 ban.

(Source：CoinDesk)