Kazakhstan could partially invest gold reserves in cryptocurrencies

Kazakhstan is thinking of investing the assets from the alternative portfolio of the republic's gold and currency reserves and from the National Fund into cryptocurrency funds, the Kazakh National Bank's head Timur Suleimenov said.

"We do not rule out allocating a portion of this alternative portfolio to funds linked to the cryptocurrency industry," Timur Suleimenov said.

He stressed that this is a rather sensitive issue and they are not going to rush.

The bank's head said that the Kazakh National Bank had reviewed international practices of sovereign wealth funds investing in crypto assets, either directly or through ETFs and in the shares of crypto-related companies.