Overview

• President Kassym-Jomart Tokayev directed the creation of a State Fund of Digital Assets under the National Bank’s investment corporation to build a strategic reserve of promising cryptocurrencies.
• Regulators were ordered to deliver comprehensive digital-asset legislation by 2026 alongside banking reforms to integrate tokenized assets and support fintech.
• Alatau will serve as a pilot “CryptoCity,” testing fully digitalized services including consumer crypto payments and smart-city infrastructure.
• Reporting indicates seed capital would include confiscated digital assets and cryptocurrencies from state-controlled mining, with officials previously discussing potential reserve reallocations.
• The plan pairs expansion of the digital tenge across public budgets with tighter oversight of mining to curb illegal operations and relieve power-grid strain in a country that has been a major BTC mining hub.