Key control
Kazakhstan plans a sovereign cryptographic reserve and a national ecosystem of digital assets, going beyond mining. Tokayev also promoted “cryptocity” in Alatau as part of the broader digital impulse in the country.
As the adoption of cryptocurrencies accelerates throughout the world, Kazakhstan pointed out his intention to become a serious player in the economy of digital assets.
The president of Kazakstan announces encryption plans
During your annual ADDRESSPresident Kassym-Jomart Tokayev requested the establishment of an integral ecosystem of digital assets.
He urged the Financial Market Regulation and Development Agency to write legislation by 2026. Of course, it positions Kazakhstan now together with nations that explore sovereign cryptographic reserves.
Said,
“It is advisable to create a State Fund for Digital Assets on the basis of the National Bank Investment Corporation. This structure will accumulate a strategic encryption reserve consisting of promising assets in the new digital financial system.”
From the Mining Center to the Holder
Kazakstan first emerged as an important cryptographic player in 2021, when he became one of the best bitcoin in the world [BTC] Mining hubs after China’s mining prohibition.
The abundant energy and transparent regulations of the country initially made it a magnet for cryptographic miners, ensuring its place in the economy of global digital assets.
However, President Tokayev’s last proposal indicates a strategic change.
Instead of focusing only on mining, Kazakhstan is now being positioned as a sovereign holder of digital assets.
This movement is aligned with a growing trend between governments that explore Bitcoin and other cryptocurrencies as reserve assets to improve financial stability and coverage against monetary volatility.
‘Cryptocity’ in Alatau
That said, this is not the first time that Tokayev has insinuated progress in cryptographic integration.
In May, he revealed plans for a pilot zone where digital currencies could be used for daily transactions.
At that time, the reports speculated that Kazakhstan would launch the “Cryptocity” project in Alatau, a city in the southeast of 52,000.
However, in his most recent direction, Tokayev seemed to confirm the plan, describing Alatau as established to become the “first totally digitized city” in the region, where cryptographic payments would be adopted without problems.
Tokayev said,
“This city will represent the future of Kazakhstan. It must combine technological progress and the most favorable living conditions.”
Kazakhstan ambitions are not limited only to mining or payments.
In addition, in July, the Sovereign Wealth Fund of the Nation also announced plans to diversify in digital assets.
A movement, said the head of the National Bank, Timur Suleimenov, would help increase long -term yields while reducing dependence on traditional reserves such as gold and foreign currency.
Current Cryptography Market Tendency
This came at a time when the global capitalization of the Crypto market stood at $ 3.92 billion at the time of publication, 1.39% in just 24 hours, according to CoinmarketCap.
Market indicators paint a mixed but intriguing image: the cryptographic fear and greed index sat in neutral, the average RSI crypto suggested overload conditions, and the Altcoin index to 56 pointed to the early stages of an Altcoin season.
Therefore, with the governments that seriously treat cryptography, the Kazakhstan movement marks more than an experiment; SIGNA Digital active that enters the world’s main financial current.
