A Pakistani Provincial Government Passes Crypto-Friendly Draft Resolution
In Pakistan, a provincial government has passed a draft resolution on December 2, 2020, that demands the federal government to take steps towards legalizing both cryptocurrencies and crypto-mining activities. A Crypto-Friendly Draft Resolution Approval Sets a Precedent in Pakistan The Provincial Assembly (MPA) of Khyber Pakhtunkhwa, one of the four provinces in the country, made the official announcement after holding discussions in the midst of a nationwide dialogue about if the federal government should legalize crypto assets and take it out from the limbo. Dr. Sumera Shams, a member of....
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By embracing crypto mining activities in the region, Pakistan and Iran may give other nations in the Middle East an example to follow. It is especially important for countries to become more aware of cryptocurrencies, especially with components like decentralized finance rising in prominence. Now that the Middle East is becoming more mining-friendly, the future suddenly looks bright once again for this region.Pakistani administration legalizes crypto mining The Pakistani government appears to be moving quickly toward a pro-crypto stance. Following a commitment to integrate Bitcoin (BTC)....
The draft resolution reportedly notes that digital currencies are likely to replace paper currencies in the future. The assembly of Khyber Pakhtunkhwa, a province in northwestern Pakistan, has become the first legislative assembly to call for changes in the country’s stance toward cryptocurrencies.As previously reported, Pakistan has, to date, been relatively slow to introduce new frameworks for digital assets and cryptocurrencies. This week’s resolution to the Khyber Pakhtunkhwa Assembly was reportedly introduced on Dec. 2 by Sumera Shams, a member of the provincial assembly and the....
The Pakistani province of Khyber Pakhtunkhwa will build two pilot cryptocurrency mining firms as part of a new state policy. The Pakistani province of Khyber Pakhtunkhwa, or KP, has formed a federal committee to create a new cryptocurrency policy including government-backed crypto mining.As part of the new policy, the KP Crypto Advisory Committee has already decided to pilot two hydroelectric-powered crypto mining farms, a minister overseeing the policy told Reuters.The committee held its first meeting on March 17, Zia Ullah Bangash, advisor to the provincial government on science and....
A draft resolution submitted to the Illinois legislature has proposed the creation of a working group dedicated to blockchain technology. House Resolution 120, filed on Wednesday by state representative Michael Zalewski, would establish a 12-person group focused on researching the tech. Public records show that the resolution has been referred to the House Rules Committee for consideration. At its heart, the draft calls for Illinois to investigate how state and local-level governments can utilize blockchain – work that is already being done, in a way, by a consortium of government agencies....
According to a report by Reuters, the Pakistani government will launch a pilot program to build Bitcoin and other cryptocurrencies mining farms. Power by two hydroelectric sources and based on the province of Khyber Pakhtunkhwa, the national program seeks to obtain revenues from the current rally in the crypto market. The advisor to the provincial […]