[Kazakhstan's Central Bank Plans to Use Confiscated Cryptocurrencies to Expand National Crypto Reserves] According to DL News, the investment subsidiary of Kazakhstan's Central Bank, 'NIC,' announced plans to use cryptocurrencies confiscated by law enforcement from criminals, along with foreign currencies and gold reserves, to expand the newly established national cryptocurrency reserve fund. The company's head, Timur Suleimenov, stated that $350 million worth of foreign exchange and gold has been allocated as initial funding for the fund. At this stage, the central bank does not plan to directly hold cryptocurrencies but will invest through five selected hedge funds and in cryptocurrency venture capital funds. President Tokayev, during a meeting with the national financial regulatory authorities, stated that the police have shut down 130 illegal cryptocurrency exchanges, confiscating assets worth over $5 million, and instructed agencies to draft specific proposals to combat cryptocurrency-related crimes.