🇵🇰Virtual Assets Bill 2025" in Pakistan🇵🇰
Its aims to regulate digital assets like cryptocurrencies 💰and blockchain technology, paving the way for a digital rupee and establishing virtual asset zones.
This bill focuses on ensuring the secure management and utilization of virtual assets, protecting investors, and preventing illegal activities like money laundering. 😳
▶️It also aims to establish a legal framework for the digital rupee to be recognized as authorized legal tender.
▶️Here's a more detailed breakdown:
✔️Regulation and Legal Framework:
The bill seeks to create a comprehensive legal and regulatory framework for virtual assets in Pakistan, covering issuance, use, trading, and utilization.
✔️Digital Rupee:
The bill proposes the introduction of a digital rupee, a central bank digital currency (CBDC) backed by the Pakistani Rupee (PKR).
✔️Virtual Asset Zones:
It also plans to establish designated virtual asset zones to ensure financial stability, protect investors, and facilitate innovation in the digital asset space.
✔️Investor Protection and Financial Stability:
The bill emphasizes investor protection and aims to prevent illegal activities like money laundering and terrorism financing.
✔️Anti-Money Laundering and Terrorism Financing:
Measures are included to ensure that virtual asset transactions are not used for money laundering or terrorism financing.
✔️Future of the Bill:
The bill was introduced in the Senate, but its future is uncertain as it may need approval from the federal government.
‼️In essence, the Virtual Assets Bill 2025 is a significant step for 🇵🇰Pakistan towards embracing digital assets and creating a regulated environment for their growth and utilization ,also safeguarding investors and the national economy.
