ALMATY, Sept. 15 (Xinhua) -- Kazakhstan will establish a national cryptocurrency analytics center to monitor digital asset transactions, the Kazinform news agency reported on Tuesday, citing the National Bank of Kazakhstan (NBK).
The center will integrate with the NBK's Anti-Fraud Center, giving banks, law enforcement agencies and licensed providers access to its verification tools, NBK Governor Timur Suleimenov said at a government meeting.
A newly approved development plan for Kazakhstan's digital asset industry includes 65 measures across 10 areas, aimed at expanding the use of digital assets in the economy. As part of it, the Ministry of Artificial Intelligence (AI) and Digital Development, and the Energy Ministry have developed a mechanism to use associated petroleum gas for cryptocurrency mining.
Under the mechanism, autonomous power plants installed directly at oil fields will generate electricity from associated gas for mining, Vice Minister of AI and Digital Development Gizzat Baitursynov said.
Kazakhstan's national strategic crypto reserve, established last year, has reached 700 million U.S. dollars, with about 200 million dollars already invested, NBK Deputy Governor Binur Zhalenov said. ■
