Pakistan

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Pakistan Forms Committees to Decide Whether Crypto Should Be Legalized or Banned

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The Pakistani government has formed three committees to decide whether to establish a legal framework for cryptocurrency or ban it. The committees will review all aspects of the cryptocurrency business and come up with recommendations on the country’s crypto policy. Committees Constituted to Decide on the Legal Status of Cryptocurrency in Pakistan Pakistan’s federal government … Read more

Pakistan’s Central Bank Sees Few Good Use Cases for Crypto Citing ‘a Lot of Misuses’ Worldwide

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The central bank of Pakistan does not see many good use cases for crypto. However, the regulator cites “a lot of misuses” of cryptocurrency around the world, “including human rights violations, trafficking of people, money laundering, and many other things.” Pakistani Central Bank Governor’s Stance on Crypto The governor of the State Bank of Pakistan … Read more

Islamic Scholar Says Digital Currency is Not a ‘Fictitious Currency’

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An Islamic scholar, Irshad Ahmad Ijaz, has asserted that digital currency is not fake currency and that it should be legitimized once certain conditions are met. Ijaz’s viewpoint is echoed by other scholars that attended a seminar examining the status of digital currencies from the perspective of Islamic law. Use of Crypto in the Digital … Read more

Pakistan Central Bank Governor on Cryptocurrency: ‘The Potential Risks Far Outweigh the Benefits’

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The Pakistani central bank governor, Reza Baqir, recently revealed that his organization has determined the risks posed by cryptocurrencies “far outweigh the benefits.” The governor, however, suggested that if solutions that address these potential risks emerge, the central bank “is open to looking at them.” Crypto Said to Have No ‘Real Economic Benefits’ for Pakistan … Read more

Pakistan Telecom Authority Asked to Block Over 1,600 Crypto Sites — Minister Says Government Intends to ‘Regularize’ Crypto

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The Pakistan Telecommunication Authority has been requested to ban more than 1,600 crypto websites by the Federal Investigation Agency (FIA). The action followed a complete crypto ban recommendation by the central bank, the State Bank of Pakistan (SBP). Meanwhile, the country’s science minister said that the government intends to “regularize” crypto in the country. Pakistan’s … Read more

Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions

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A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions Pakistani Bank … Read more

Pakistan Seeks to Block Websites Dealing in Cryptocurrency: Report

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Pakistan’s Federal Investigation Agency (FIA) is reportedly seeking to block websites dealing in cryptocurrency. The decision followed a meeting the agency had with the State Bank of Pakistan (SBP) which recently recommended a complete ban on crypto. Pakistan’s FIA Reportedly Seeks to Block Cryptocurrency Websites Pakistan’s Federal Investigation Agency (FIA) is seeking to block websites … Read more