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Kazakhstan launches Alem Crypto Fund with first investment in BNB

Kazakhstan has launched the Alem Crypto Fund, a state-backed initiative for long-term digital asset reserves, making its debut with a purchase of BNB, the utility token used on Binance. The fund, formed by the Ministry of Artificial Intelligence and Digital Development and managed by Qazaqstan Venture Group, aims to make long-term investments in digital assets and establish strategic reserves. While the exact amount of BNB acquired was not disclosed, this move signals Kazakhstan's increasing engagement with the cryptocurrency sector. Since 2022, Binance has partnered with the Kazakh government to advance a regulatory framework for digital assets. Kazakhstan has also been a significant player in crypto mining and is evolving its policies around digital assets. The Alem Crypto Fund, although not a central bank reserve, represents a growing trend among nations considering the integration of cryptocurrencies into national assets.

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Here’s what happened in crypto today

Today in crypto news, Kazakhstan launched its first state-backed crypto reserve in partnership with Binance, marking a significant step into digital assets. The Alem Crypto Fund, initiated by the Ministry of Artificial Intelligence and Digital Development, has BNB as its initial investment. Meanwhile, Polish lawmakers advanced a restrictive Crypto-Asset Market

Kazakhstan Launches State-backed Crypto Fund; Poland Moves to Regulate Digital Assets

Kazakhstan, in partnership with Binance, has launched its first state-backed crypto fund, the Alem Crypto Fund, marking a significant step in the country's embrace of digital assets. The fund's initial asset is BNB, Binance's utility token, although details about the amount purchased remain undisclosed.

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