Pakistanis Own $20 Billion in Crypto, Report Reveals

Pakistanis Own $20 Billion in Crypto, Report Reveals

In the absence of regulations, people in Pakistan have invested a serious amount of money in digital assets. New research claims Pakistanis keep some $20 billion in cryptocurrency, allegedly more than what their central bank has in foreign reserves. Government Urged for Regulations as Study Shows Pakistanis Hold $20 Billion in Cryptocurrency The Pakistani nation owns more cryptocurrency than foreign reserves, according to the Pakistan Frontier and other media outlets quoting a new report by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). The study,....


Related News

Pakistanis Lose Millions to Crypto Scam, Pakistan Issues Notice to Binance

Investors from Pakistan have become victims of a massive fraud using cryptocurrency. The country’s main law enforcement agency has issued a notice to crypto exchange Binance in relation to the scam which resulted in the loss of $100 million dollars for Pakistanis, media reports revealed. Fraudsters Lure Pakistanis to Invest in Cryptocurrency Through Binance Pakistan’s Federal Investigation Agency (FIA) has uncovered a crypto investment scam that has allegedly cost Pakistani citizens some 17.7 billion rupees (around $100 million). Providing details on the case, Imran Riaz,....

Pakistanis have $20B in crypto assets, says head of local association

He called for the government to set up a Bitcoin policy, arguing that India already had some regulations in place. Nasir Hayat Magoon, The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has stated that Pakistani citizens have a combined crypto assets value of $20 billion.During a news conference, the FPCCI president said that Pakistanis' digital currency valuations are based on the chamber's research paper, as per a local report. He urged the government to implement a cryptocurrency policy, pointing out that India has implemented some restrictions in....

New Study Reveals Ethereum Gained More Popularity Than Bitcoin In 2021

A new study reveals that Singapore benefited from cryptocurrencies, especially Ethereum, through increased adoption. Germini, a crypto exchange, conducted The State of Crypto in Singapore Report 2021, collaborating with Seedly and CoinMarketCap. The report revealed that the financial investments of over two-third of the citizens include digital assets. The report has participants of 4,348 Singapore residents […]

Robinhood IPO Filing Reveals $88 Billion in Cryptocurrency Trading, Dogecoin ...

Robinhood’s IPO prospectus shows that 9.5 million customers traded $88 billion of cryptocurrency on its platform in Q1 and the company held approximately $12 billion in crypto assets under custody, a 23-fold increase from last year. Meanwhile, 34% of Robinhood’s cryptocurrency revenue was attributable to the meme cryptocurrency dogecoin. Robinhood’s IPO Prospectus Reveals Crypto Business Details Robinhood Markets Inc. (Robinhood) filed a preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) Thursday for its initial public offering (IPO). The....

Metaverse market share to surpass $50 billion by 2026, says new report

A new report reveals the Metaverse will have a market share surpassing $50 billion by 2026. A new report by technology research and advisory firm Technavio reveals an upward trend for the Metaverse within the next four years. The report titled “Metaverse Market in Finance by Component and Geography - Forecast and Analysis 2022-2026” analyzed the metaverse from two viewpoints. The first is software and hardware, and the second is through the impact of various geographical regions. According to the study, the metaverse will hit a market share value of $50.37 billion by the year 2026.....