Report: Pakistan Likely to Earn Billions From Cryptocurrency
According to a document produced by a Pakistani policy advisory board, the country is likely to earn billions of dollars from crypto-asset holders. Yet for this to happen, the country first needs to create the appropriate regulatory framework for crypto assets. Cryptocurrencies Could Boost Reserves Pakistan may potentially raise billions of dollars from crypto assets held by its nationals or by residents with dual citizenship, a policy document produced by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has said. According to a report in The Business Recorder, the....
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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 dealing in cryptocurrency, Dawn newspaper reported Sunday. The FIA is “a border control, criminal investigation, counter-intelligence, and security agency under the control of....
Pakistan Government has formed committees which will help them decide the future of the cryptocurrency business. These three sub-committees that have been set up will help the government of Pakistan to decide whether the digital asset should be banned or not. The committees are responsible to assess the various aspects of the industry to make […]
In a surprising revelation from the State Bank of Pakistan (SBP) in their 2022 financial stability report, the institution acknowledged the nascent, albeit “promising work” of Ripple and XRP, in the global payment ecosystem. State Bank Of Pakistan Praises Ripple And XRP “While crypto assets offer some benefits, the realization of these benefits still requires […]
Pakistan is currently the seventh most populous country in the world with approximately 202 million residents. Today, the country exhibits many traits ripe for accelerated bitcoin adoption. Bitcoin.com discussed bitcoin trends in Pakistan with Danyal Manzar, the co-founder of Pakistan’s first and largest bitcoin trading platform, Urdubit. Huge Freelance....
Authorities in Pakistan have reportedly moved to seize hundreds of bank accounts and cards belonging to cryptocurrency traders. According to local media, they have been allegedly used to make transactions worth close to $300,000 through digital asset exchanges, including major platforms. Pakistan Government Blocks Cards Used to Buy Cryptocurrency, Media Reveals Bank accounts in the names of 1,064 individuals have been frozen by Pakistan’s Federal Investigation Agency (FIA). The law enforcement authority acted on request from the Cyber Crime Reporting Center (CCRC) in Islamabad, the....