Category: pakistan

Pakistan Seeks to Block Websites Dealing in Cryptocurrency: Report

Pakistan Seeks to Block Websites Dealing in Cryptocurrency: Report

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 […]

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Pakistan’s Central Bank Decides to Completely Ban Cryptocurrency: Report

Pakistan’s Central Bank Decides to Completely Ban Cryptocurrency: Report

The State Bank of Pakistan (SBP), the country’s central bank, has reportedly come to a decision to ban the use of all cryptocurrencies within the country. The central bank has also asked the Sindh High Court to ban “unauthorized operations” of crypto exchanges and impose penalties on them. Pakistani Interministerial Committee Recommends Banning Cryptocurrency and […]

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Pakistan Freezes Over 1,000 Accounts and Cards Used For Crypto Trading

Pakistan Freezes Over 1,000 Accounts and Cards Used For Crypto Trading

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 […]

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Pakistan crypto adoption jumps over 700% in 2021 despite a lack of regulation, crypto value surpasses $20B

According to a recent report by the Federation of Pakistan Chambers of Commerce and Industry, the country has shuffled roughly $20 billion in cryptocurrency in 2020-21 The Chamber Association strongly recommends regulating cryptocurrencies and related economic activities The report says, a legal framework should be put in place to regulate the crypto market, based on […]

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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 […]

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Pakistan Government Not Against Crypto Investments, High Court Calls for Regulations

Pakistan Government Not Against Crypto Investments, High Court Calls for Regulations

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 […]

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Chainalysis Report: India tops the Global Crypto Index in virtual currency usage

The latest virtual currency adoption report by blockchain-based analysis firm, Chainalysis noted that India is among the top three countries with the most cryptocurrency usage according to the Global Crypto Adoption Index. The report stated that the Central and Southern Asia and Oceania (CSAO) region has risen as the dark horse of crypto adoption, with […]

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Provincial government in Pakistan plans hydro-powered crypto mining pilot program: report

Reuters reported Thursday that the government in the Pakistani province of Khyber Pakhtunkhwa is planning to build two cryptocurrency mines as part of a pilot program. The pilot mines will draw their power from hydroelectric energy sources, according to the report. According to Reuters, the ultimate cost of the initiative is not yet known. “People […]

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Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

The government of Khyber Pakhtunkhwa (KP), the third largest of Pakistan’s four semi-autonomous provinces, is setting up two state-backed bitcoin mining farms, local media reported last week. Ziaullah Bangash, advisor to the chief minister of KP on Science and Information Technology, said the provincial parliament passed a bill allowing the KP government to use its […]

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A Pakistani Provincial Government Passes Crypto-Friendly Draft Resolution

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 […]

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