Kazakhstan is ramping up its crypto strategy with plans to launch a national digital asset reserve and strengthen cryptocurrency regulations.
In his latest address, President Kassym-Jomart Tokayev emphasized the importance of building a comprehensive digital asset ecosystem, framing it as a cornerstone of the country’s broader push to digitalize the economy, modernize state infrastructure, and adopt artificial intelligence (AI). The initiative marks a major shift in Kazakhstan’s financial policy.
Back in January, Tokayev called for the urgent development of crypto infrastructure, pointing out that many users still operate in the gray zone. His recent remarks build on that message, setting a three-year timeline for full digital transformation.
As part of this plan, Tokayev proposed establishing a State Fund of Digital Assets — a strategic crypto reserve designed to anchor Kazakhstan’s digital economy.
“It is advisable to create a State Fund of Digital Assets on the basis of the National Bank’s Investment Corporation, consisting of promising assets in the new digital financial system,”
Kazakhstan is accelerating its push into digital finance with plans to anchor a crypto reserve under the National Bank’s Investment Corporation. The fund will hold select digital assets tied to the evolving global financial ecosystem, marking a decisive step in reshaping the nation’s financial policy.
The idea first surfaced in June, when the National Bank signaled interest in converting part of its gold and foreign exchange reserves into crypto. Funding for the reserve will come from confiscated digital assets, coins mined through state-supported operations, and mandatory contributions or taxes from the sector.
To cement this vision, President Kassym-Jomart Tokayev urged regulators to pass a Digital Code and a new Law on Banks by the end of 2025. These frameworks will govern the circulation of digital assets, use of AI, big data integration, and broader digitalization of the financial system. Tokayev warned that delays in adopting such reforms could carry serious national risks.
A central piece of the strategy is the creation of Alatau City, or “CryptoCity” — a planned innovation hub designed to run on smart city technologies and support crypto-based payments for everyday services. The project, already backed by land and infrastructure plans, will operate under a special legal regime overseen directly by the federal government.
Meanwhile, Kazakhstan’s digital tenge — the central bank digital currency (CBDC) — is already financing state projects. Tokayev has proposed extending its use to republican and local budgets, as well as to state-owned enterprises.
With these moves, Kazakhstan joins countries like Brazil, Ukraine, and Indonesia in exploring national crypto reserves, echoing similar debates in the U.S. under a directive from President Donald Trump.
Though challenges remain, the roadmap unveiled by Tokayev positions Kazakhstan to integrate blockchain, digital assets, and AI as core pillars of its future economy — signaling a bold pivot toward global competitiveness in the digital era.
