Kassym-Zomart Tokajew, president of the Republic of Kazakhstan, presented his plans for domestic projects on the development of artificial intelligence and digital assets.
Tokajew wants to create a crypto reservoir
In the annual message of Tokajew said that the government should create a “full digital ecosystem” as soon as possible. He proposed that the Agency for Regulation and Development of the financial market should prepare a bill regarding cryptocurrencies, which would be adopted before 2026.
The president wants Kazakhstan to have his crypto reservoir:
It is advisable to create the State Digital Asset Fund based on the Investment Corporation of the National Bank. This structure It will accumulate strategic cryptocurrency reserves, consisting of promising assets in the new digital financial system.
Cryptoreserves in the world
Everything happens two months after reports that the Kazakh National Bank was considering creating a national cryptocurrency reserve. In addition, several other countries, including Brazil and Indonesia, analyze the idea of creating this type of strategic reserves.
The USA also has a crypto reservoir, although in a form that is a bit disappointing. The power does not actively buy bitcoins, but only powers the reserve of the assets he takes over by criminals.
Cryptocity
Let’s return to Kazakhstan. In May, Tokajew said that the country’s government is planning to create a pilot zone in which cryptocurrencies could be used to pay for goods and services. “Cryptocity” would be built in Ałatau, a city of about 52,000 inhabitants, lying in the south-eastern part of the country.
The president now seemed to confirm these reports: Ałatau will become “the first fully digitized city in the region” using cryptocurrency payments.
This city will represent the future of Kazakhstan. Should combine technological progress with the most favorable conditions of life
– he explained
Kazakhstan, although it can be associated with backwardness, is today one of the most important places on a bitcoin map. There are even BTC kicks in the country that use favorable regulatory and low electricity costs. As a result, this country was responsible at the peak for about 13% of the Global Hashrate of the Bitcoin network. The problem is that this led to an increase in the number of illegal mines and the load on the national energy network.
