Pakistan Government Not Against Crypto Investments, High Court Calls for Regu...
The executive power will not oppose cryptocurrency investments, a high-ranking government official has told lawmakers in Pakistan. The statement comes as a regional high court has urged the federal government to regulate cryptocurrencies and formed a committee to look into the matter in the coming months. Minister Says Pakistan Government Has No Objection to Investments in Crypto Addressing members of the National Assembly this week, Pakistan’s Minister of State for Parliamentary Affairs, Ali Muhammad Khan, recognized cryptocurrency as a new concept. He then noted that....
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Pakistan’s FIA (Federal Investigation Agency) has announced that they plan on obtaining a court order from the PTA to block cryptocurrency trading websites. The government is stated to be doing so as part of their efforts against fraud and money laundering. The Director-General of the FIA, Dr. Sanaullah Abbasi, met with State Bank Pakistan’s Cyber […]
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 […]
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 FIA Taking Action Against Crypto Websites, Backing Central Bank’s Crypto Ban Recommendation
Pakistan’s Federal Investigation Agency (FIA) has written to the....
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....
Despite there not being much activity in the Bitcoin world of Pakistan and Saudi Arabia, the LocalBitcoin weekly volume in the two new markets reached an all time high in the week of Nov. 5. About SAR 70,000 - approximately $20,000 - was traded in Saudi Arabia that week, while RS 10.8 mln - about $103,000 - was traded in Pakistan. This development indicates not only a surge in interest in the two countries, but the gradual establishment of a young foothold in environments that offer vast potential for the top digital currency. Pakistan: more awareness and the Indian influence. Urdubit is....