May 21, 2024

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Pakistan takes a fresh look at cryptocurrency

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Pakistan’s federal governing administration has shaped 3 subcommittees to explore the potential of cryptocurrencies and associated services, area media report

See similar post: Pakistani central lender echoes RBI’s issues about crypto

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  • The very first panel is chaired by the legislation secretary with the State Bank of Pakistan (SBP), with the Federal Investigation Company (FIA) and Pakistan Telecommunication Authority (PTA) as associates, between some others.
  • Two other subcommittees have been set up less than the chairmanship of SBP Deputy Governor Saima Kamal. 
  • Panel members contain reps from the Ministry of Info Technologies, the Securities and Exchange Fee of Pakistan, PTA and other folks. 
  • The subcommittees will prepare their proposals and mail them to a committee headed by the finance secretary, following which the country will get ready recommendations on the future of cryptocurrencies.
  • The SBP recommended a ban on cryptocurrencies before this calendar year, with one particular of the nation’s premier banks promptly heeding the assistance by asking shoppers to steer clear of applying its financial institution for crypto transactions.  

See associated write-up: From Myanmar to South Korea: Breaking Down Blockchain’s Long run in Asia with Paul Ulrich, GSMA

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