President Tokayev orders the creation of a national digital asset reserve and the development of the first CryptoCity in Alatau.
According to Akorda Press, Kazakhstan aims to become a global pioneer in institutional adoption of digital assets. President Kassym-Jomart Tokayev has outlined a roadmap that will lead the country to establish a strategic digital asset reserve by 2026, following the example set by Donald Trump’s United States.
Plan details
During his annual address on September 8, the Kazakh President presented a clear vision for the country’s digital future. The main goal is the creation of a “comprehensive digital asset ecosystem” to maximize the economic return of national banking resources.
The proposal includes the establishment of a State Fund for Digital Assets, based on the National Bank Investment Company. This entity will be responsible for building a strategic cryptocurrency reserve composed of “promising assets from the new digital financial system.”
Timeline and implementation
The Kazakh government has already initiated the legislative process to formalize this initiative. The Agency for Regulation and Development of the Financial Market will draft a specific law, expected to be approved before 2026.
According to previous reports, Kazakhstan’s strategic reserve could also be funded through digital assets seized by authorities, following a model similar to that used in the U.S.
CryptoCity
The CryptoCity project is another key element of Kazakhstan’s plan. The city of Alatau, with its 52,000 residents in the country’s southeastern region, has been chosen to become “the first fully digitized city in the region.”
“This city will represent the future of Kazakhstan,” Tokayev said, explaining that Alatau will combine technological progress with optimal living conditions. The pilot project will allow the use of bitcoin and other cryptocurrencies for goods and services.
