Pakistan's Ministry of Finance has approved the establishment of the Pakistan Digital Assets Authority (PDAA) to regulate blockchain-based financial infrastructure. The PDAA will oversee licensing, exchanges, custodians, wallets, stablecoins, and decentralized finance applications. Finance Minister Muhammad Aurangzeb emphasized the need for regulation to position Pakistan as a leader in the industry. The PDAA will also tokenize national assets, regulate Bitcoin mining for surplus electricity monetization, and support blockchain startups. The regulatory framework addresses terrorism financing and money laundering concerns. Despite initial reluctance, Pakistan has shown significant growth in crypto adoption, with an estimated 27 million users by 2025. The country's crypto market is projected to reach $1.6 billion in revenue by 2025. This shift reflects a global trend in evolving crypto regulations. Subscribe to our Crypto Biz newsletter for insights on blockchain trends and regulatory changes. Read more AI-generated news on: https://app.chaingpt.org/news

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