Pakistan takes a fresh look at cryptocurrency

Barbie Espinol

Pakistan’s federal govt has formed three subcommittees to investigate the long term of cryptocurrencies and related services, nearby media report

See associated write-up: Pakistani central bank echoes RBI’s considerations about crypto

Quickly details

  • The first panel is chaired by the law secretary with the Condition Financial institution of Pakistan (SBP), with the Federal Investigation Agency (FIA) and Pakistan Telecommunication Authority (PTA) as customers, between others.
  • Two other subcommittees have been established up beneath the chairmanship of SBP Deputy Governor Saima Kamal. 
  • Panel members include things like associates from the Ministry of Information Technological know-how, the Securities and Exchange Commission of Pakistan, PTA and others. 
  • The subcommittees will prepare their proposals and send them to a committee headed by the finance secretary, right after which the place will prepare suggestions on the foreseeable future of cryptocurrencies.
  • The SBP suggested a ban on cryptocurrencies before this year, with a single of the nation’s most significant banking companies swiftly heeding the information by asking clients to avoid applying its financial institution for crypto transactions.  

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

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