Kazakh President Advocates for State Digital Asset Fund and Crypto Payments in Smart City Initiative

President Kassym-Jomart Tokayev of Kazakhstan has voiced his strong support for advancing the nation’s digital infrastructure, particularly focusing on the adoption of cryptocurrencies and digital assets. During a high-level government session, the President emphasized the crucial role of establishing a state-backed digital asset fund. The aim of this fund is to bolster innovative projects within the digital domain. He highlighted that such a fund would be instrumental in attracting foreign investments and solidifying Kazakhstan’s position as a leading regional hub for fintech. Furthermore, President Tokayev urged the integration of cryptocurrency payments into the framework of the new smart city currently under development. He asserted that this integration would streamline financial transactions, making them more efficient and transparent. He also stated that the government is actively developing a comprehensive regulatory framework for the trading and utilization of cryptocurrencies, with the intent of safeguarding investors and preventing illicit activities. He added that Kazakhstan possesses significant potential to emerge as a frontrunner in the digital asset sphere, and the government is committed to cultivating an environment conducive to the flourishing of this sector.