According to BlockBeats, Pakistan and El Salvador are establishing a partnership focused on cryptocurrency knowledge sharing. Bilal Bin Saqib, Pakistan's Special Assistant for Cryptocurrency and Blockchain, met with El Salvador's President Nayib Bukele in San Salvador to outline the partnership centered on cryptocurrency.
Pakistan is considering the establishment of Bitcoin reserves and has allocated 2,000 megawatts of power for Bitcoin mining. Additionally, the Pakistani federal government has formed the Pakistan Virtual Asset Regulatory Authority (PVARA) to oversee the country's digital asset industry. PVARA will operate as an independent regulatory body responsible for licensing, supervising, and managing virtual asset service providers, ensuring compliance with international standards, including guidelines from the Financial Action Task Force (FATF).
