Foresight News reports that Pakistan and El Salvador are establishing a knowledge-sharing partnership centered around cryptocurrency, according to Bloomberg. Pakistan's Prime Minister's special assistant on cryptocurrency and blockchain, Bilal Ben Saqib, met with El Salvador's President Nayib Bukele in San Salvador to outline a new knowledge-sharing partnership focused on cryptocurrency.
Pakistan is considering establishing Bitcoin reserves and has allocated 2,000 megawatts of electricity for Bitcoin mining, although the International Monetary Fund recently rejected Pakistan's proposal for electricity subsidies for Bitcoin mining. Additionally, the country established a new regulatory body, the Pakistan Digital Assets Management Authority, in May of this year to regulate the cryptocurrency economy, with currently between 15 to 20 million Pakistanis holding cryptocurrency.
