Pakistan takes step in regulating crypto currencies
Pakistan has taken a significant step toward integrating with the global digital economy through the signing of key agreements between the Pakistan Crypto Council (PCC) and World Liberty Financial (WLF). The collaboration aims to drive investment and innovation within Pakistan’s emerging crypto sector.
The development comes at a time when
Pakistan’s stance on cryptocurrencies is gradually evolving. While the State
Bank of Pakistan (SBP) banned banks from dealing in virtual currencies in 2018,
public interest and global trends have kept digital assets in the spotlight. In
recent years, policymakers have shown increasing openness to exploring
regulated frameworks that harness the potential of digital assets while
managing associated risks.
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The signing ceremony was attended by
Federal Minister for Information Ata Tarar, PCC CEO Bilal Bin Saeed, and WLF
Co-Chairman Zack Vetkoff. Addressing the media, the dignitaries emphasized the
importance of the agreements and the promising future of Pakistan’s crypto
market.
Federal Minister Ata Tarar hailed
the establishment of the Pakistan Crypto Council as a milestone for the
country’s technological advancement.
“Pakistan offers tremendous opportunities in the crypto sector,” he said.
“Despite being a relatively new player, we have made remarkable progress in a
short time. Initiatives like this will help fuel economic growth and
technological innovation.”
PCC CEO Bilal Bin Saeed welcomed
Zack Vetkoff to Pakistan and expressed optimism about the collaboration.
Vetkoff, in turn, praised Pakistan’s economic potential, describing it as “one
of the fastest-emerging economies” and expressing excitement about contributing
to its financial future.
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The agreements are expected to spur
innovation in the crypto space, deepen cooperation between PCC and WLF, and
attract greater international investment into Pakistan’s digital economy.
Source: Profit Pakistan