Pakistan takes a fresh look at cryptocurrency

Donna B. Jones

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Pakistan’s federal government has shaped a few subcommittees to examine the foreseeable future of cryptocurrencies and associated services, local media report

See related report: Pakistani central lender echoes RBI’s concerns above crypto

Rapid specifics

  • The 1st panel is chaired by the law secretary with the Condition Lender of Pakistan (SBP), with the Federal Investigation Agency (FIA) and Pakistan Telecommunication Authority (PTA) as customers, amid other folks.
  • Two other subcommittees have been established up below the chairmanship of SBP Deputy Governor Saima Kamal. 
  • Panel members incorporate representatives from the Ministry of Facts Technologies, the Securities and Exchange Commission of Pakistan, PTA and other folks. 
  • The subcommittees will prepare their proposals and send out them to a committee headed by the finance secretary, following which the state will get ready suggestions on the foreseeable future of cryptocurrencies.
  • The SBP advised a ban on cryptocurrencies earlier this year, with 1 of the nation’s major financial institutions immediately heeding the suggestions by asking customers to stay clear of using its lender for crypto transactions.  

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

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