Kazakhstan Central Bank to Build National Virtual Currency Reserve with Confiscated Bitcoins

According to a report by DL News on January 30, the investment division of Kazakhstan's Central Bank has announced plans to utilize cryptocurrencies confiscated during criminal investigations to establish a national virtual currency reserve. Timur Suleimenov, the head of the National Investment Corporation (NIC), a subsidiary of the central bank, revealed to the press on January 28 that the central bank has already allocated $350 million worth of foreign currencies and gold to the fund. The fund will be constructed by combining these assets with the cryptocurrencies seized by law enforcement agencies.