Pakistan Proposes Amendments to Legalize Cryptocurrency
The State Bank of Pakistan has established a legislative framework to acknowledge digital assets, such as cryptocurrencies, as legitimate forms of money. The initiative, if accepted, would enable the SBP to launch a digital currency, which could eventually lead to Pakistan’s central bank issuing a digital currency. According to the Tribune, the SBP suggested changes […]
India Hints at Vetoing Pakistan’s BRICS Membership Bid
India has expressed its reservations about Pakistan’s aspiration to join the BRICS group of emerging economies, citing the lack of consensus and the historic rivalry between the two countries. India has recently articulated its stance regarding Pakistan’s aspiration to join the BRICS (Brazil, Russia, India, China, South Africa) alliance, a group of major emerging economies […]
Pakistan Denies FATF’s Role In Crypto Ban
Contrary to what Pakistan’s finance minister stated, the Financial Action Task Force (FATF) has clarified that it does not require Pakistan to ban crypto trading or services. Local media reports say Finance Minister Aisha Pasha told the Senate committee that Pakistan must ban crypto trading to stay off the FATF’s “grey list” of jurisdictions. State […]
Pakistan signs new laws ahead of CBDC launch in 2025
In preparation for a Central Bank Digital Currency (CBDC) by the year 2025, the State Bank of Pakistan (SBP) has signed in new laws for Electronic Money Institutions, and non-bank entities offering digital payment instruments. Central bank digital currencies (CBDCs), which inherit the financial prowess of the technology that fuels cryptocurrencies, are seen by regulators […]
High Court of Sindh orders Pakistan’s government to regulate crypto in three months
The government has been urged by the High Court of Sindh (SHC), Pakistan’s highest judicial authority, to come up with procedures for cryptocurrency regulation and also a report on deliberations surrounding the process. The SHC handed the instruction while hearing a case challenging the validity of Pakistan’s 2018 crypto prohibition, according to Pakistani English daily […]