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Pakistan Bets on Blockchain: Will Billion-Dollar Remittances Change the Landscape?
Pakistan, one of the largest remittance-receiving countries in the world, is considering using blockchain technology to revolutionize the process of transferring money from abroad. According to Bilal bin Saqib, senior advisor to the Finance Minister and member of the newly established Pakistan Cryptocurrency Council (PCC), blockchain could be the key to reducing costs and speeding up transactions. Could this move help Pakistan tap into the enormous economic potential from its overseas labor community?
SBP Proposes Legal Recognition of Digital Assets in Pakistan
The State Bank of Pakistan (SBP) has proposed a major policy shift to recognize digital assets, including cryptocurrency, as legal currency. If approved, the amendment would enable SBP to issue its own digital currency, potentially paving the way for a central bank digital currency (CBDC).
The proposal also grants SBP authority over digital and physical currency management while penalizing unauthorized issuers. Additionally, it suggests lifting restrictions on dual nationals in senior SBP roles, aligning with the government’s broader strategy to modernize Pakistan’s financial sector.
#Pakistan #DigitalCurrency #SBP
The State Bank of Pakistan (SBP) has proposed a major policy shift to recognize digital assets, including cryptocurrency, as legal currency. If approved, the amendment would enable SBP to issue its own digital currency, potentially paving the way for a central bank digital currency (CBDC).
The proposal also grants SBP authority over digital and physical currency management while penalizing unauthorized issuers. Additionally, it suggests lifting restrictions on dual nationals in senior SBP roles, aligning with the government’s broader strategy to modernize Pakistan’s financial sector.
#Pakistan #DigitalCurrency #SBP
🇵🇰 Pakistan Takes Steps Toward Cryptocurrency Adoption! 🚀
The State Bank of Pakistan (#SBP ) is exploring the formal recognition of cryptocurrencies and the introduction of a Central Bank Digital Currency (CBDC).
🔥 Key Highlights:
🔹 Legal Recognition: Cryptocurrencies may soon gain official status.
🔹 Digital Currency: The SBP is working on launching its own CBDC.
🔹 Regulatory Measures: Strict penalties could be imposed on unauthorized crypto activities.
💡 Potential Impact: If implemented, these changes could revolutionize Pakistan's financial system and encourage wider cryptocurrency adoption.
📢 What do you think? Is Pakistan ready to embrace cryptocurrency as the future of finance? Share your views below!
#Write2Earn #BinanceSquareFamily #TrendingTopic #BTC
The State Bank of Pakistan (#SBP ) is exploring the formal recognition of cryptocurrencies and the introduction of a Central Bank Digital Currency (CBDC).
🔥 Key Highlights:
🔹 Legal Recognition: Cryptocurrencies may soon gain official status.
🔹 Digital Currency: The SBP is working on launching its own CBDC.
🔹 Regulatory Measures: Strict penalties could be imposed on unauthorized crypto activities.
💡 Potential Impact: If implemented, these changes could revolutionize Pakistan's financial system and encourage wider cryptocurrency adoption.
📢 What do you think? Is Pakistan ready to embrace cryptocurrency as the future of finance? Share your views below!
#Write2Earn #BinanceSquareFamily #TrendingTopic #BTC
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Pakistan is About to Establish a National Crypto Council: A New Turning Point for the Market?
The Pakistani government is taking strong steps to legalize and regulate cryptocurrency by planning to establish a National Crypto Council. This could be an important turning point, creating a transparent legal framework and promoting the development of digital assets in the country.
Important Turning Point for Pakistan
According to Dawn newspaper, the government has planned to establish a National Crypto Council after a meeting between Finance Minister Muhammad Aurangzeb and digital asset advisors of U.S. President Donald Trump. This is seen as a sign that Pakistan wants to change its previous stance from a complete ban to a more flexible approach to crypto.
Important Turning Point for Pakistan
According to Dawn newspaper, the government has planned to establish a National Crypto Council after a meeting between Finance Minister Muhammad Aurangzeb and digital asset advisors of U.S. President Donald Trump. This is seen as a sign that Pakistan wants to change its previous stance from a complete ban to a more flexible approach to crypto.
💎🔥 𝐏𝐚𝐤𝐢𝐬𝐭𝐚𝐧 𝐄𝐦𝐛𝐫𝐚𝐜𝐞𝐬 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐑𝐞𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 🇵🇰💥📣
Pakistan is making noteworthy strides in digital financial innovation as the State Bank of Pakistan (#SBP ) unveils plans to regulate and integrate digital assets, including cryptocurrencies, into the formal financial system. This transformative move could officially recognize digital currencies as legal tender, signaling a significant evolution in the country's financial framework.
As part of this initiative, the SBP is also exploring the launch of its own central bank digital currency (#CBDC ). If implemented, this digital currency would represent a pivotal step in modernizing Pakistan’s financial ecosystem and aligning it with global trends. The shift reflects a departure from the central bank’s traditionally cautious approach to cryptocurrencies, heralding a forward-thinking chapter in the nation’s economic policies.
This bold direction underscores Pakistan's commitment to fostering innovation, enhancing financial inclusion, and creating a robust regulatory environment for digital assets. With these developments, the country is poised to position itself as a key player in the rapidly evolving global digital finance arena.
#pakistanbinancefamily #2025WithBinance #Write2Earn!
Pakistan is making noteworthy strides in digital financial innovation as the State Bank of Pakistan (#SBP ) unveils plans to regulate and integrate digital assets, including cryptocurrencies, into the formal financial system. This transformative move could officially recognize digital currencies as legal tender, signaling a significant evolution in the country's financial framework.
As part of this initiative, the SBP is also exploring the launch of its own central bank digital currency (#CBDC ). If implemented, this digital currency would represent a pivotal step in modernizing Pakistan’s financial ecosystem and aligning it with global trends. The shift reflects a departure from the central bank’s traditionally cautious approach to cryptocurrencies, heralding a forward-thinking chapter in the nation’s economic policies.
This bold direction underscores Pakistan's commitment to fostering innovation, enhancing financial inclusion, and creating a robust regulatory environment for digital assets. With these developments, the country is poised to position itself as a key player in the rapidly evolving global digital finance arena.
#pakistanbinancefamily #2025WithBinance #Write2Earn!
Overseas Pakistanis Set New Record in Remittances!
In March alone, a massive $4.1 billion was sent back home — marking a 30% increase from last month and a 37% surge year-over-year!
Top Contributors:
Saudi Arabia: $990M
UAE: $840M
UK: $680M
USA: $420M
According to State Bank data, a whopping $28 billion has been received in the first 9 months of FY2023-24!
Overseas Pakistanis are fueling the economy like never before!
$BTC
#Remittances #PakistanEconomy #OverseasPakistanis #SBP #DollarInflows
In March alone, a massive $4.1 billion was sent back home — marking a 30% increase from last month and a 37% surge year-over-year!
Top Contributors:
Saudi Arabia: $990M
UAE: $840M
UK: $680M
USA: $420M
According to State Bank data, a whopping $28 billion has been received in the first 9 months of FY2023-24!
Overseas Pakistanis are fueling the economy like never before!
$BTC
#Remittances #PakistanEconomy #OverseasPakistanis #SBP #DollarInflows
Crypto in Pakistan: SBP Ban, Account Risks & Regulatory Developments
As of April 2025, cryptocurrency in Pakistan occupies a legal gray area. While not officially banned, the regulatory framework remains under development.
Banking Restrictions:
Since 2018, the State Bank of Pakistan (SBP) has prohibited financial institutions from processing cryptocurrency transactions. Consequently, banks have been known to warn customers against using their accounts for crypto-related activities, and there have been reports of accounts being frozen due to such transactions
Regulatory Developments:
In a significant shift, the Pakistani government has shown intent to regulate and legalize cryptocurrency. In March 2025, the Pakistan Crypto Council (PCC) was established to devise a clear regulatory framework aimed at attracting foreign investment and integrating crypto into the financial system
Current Status:
Despite these developments, cryptocurrencies are not yet recognized as legal tender in Pakistan. The SBP has not authorized any individuals or organizations to offer services related to virtual currencies . Therefore, while discussions on legalization are underway, the use of cryptocurrencies remains unregulated, and individuals engaging in crypto transactions do so at their own risk.
Conclusion:
Untilaformalregulatoryframeworkisestablished,it'sadvisabletoexercisecautionwhenengagingincryptocurrencyactivitiesinPakistan.MonitoringofficialannouncementsfromtheSBPandthePCCwillprovidethemostaccurateguidanceontheevolvinglegalstatusofcryptocurrenciesinthecountry
#CryptoBanPakistan
#SBP
#CryptoRegulation #PakistanCrypto
Banking Restrictions:
Since 2018, the State Bank of Pakistan (SBP) has prohibited financial institutions from processing cryptocurrency transactions. Consequently, banks have been known to warn customers against using their accounts for crypto-related activities, and there have been reports of accounts being frozen due to such transactions
Regulatory Developments:
In a significant shift, the Pakistani government has shown intent to regulate and legalize cryptocurrency. In March 2025, the Pakistan Crypto Council (PCC) was established to devise a clear regulatory framework aimed at attracting foreign investment and integrating crypto into the financial system
Current Status:
Despite these developments, cryptocurrencies are not yet recognized as legal tender in Pakistan. The SBP has not authorized any individuals or organizations to offer services related to virtual currencies . Therefore, while discussions on legalization are underway, the use of cryptocurrencies remains unregulated, and individuals engaging in crypto transactions do so at their own risk.
Conclusion:
Untilaformalregulatoryframeworkisestablished,it'sadvisabletoexercisecautionwhenengagingincryptocurrencyactivitiesinPakistan.MonitoringofficialannouncementsfromtheSBPandthePCCwillprovidethemostaccurateguidanceontheevolvinglegalstatusofcryptocurrenciesinthecountry
#CryptoBanPakistan
#SBP
#CryptoRegulation #PakistanCrypto
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