Pakistan is actively advancing its position in the digital asset industry through significant regulatory initiatives. A notable development is the introduction of the Virtual Assets Bill 2025, proposed by Senator Dr. Afnan Ullah Khan. This legislation aims to establish a comprehensive framework for virtual assets, including cryptocurrencies and blockchain technologies, within the country.
Key Highlights of the Virtual Assets Bill 2025:
Introduction of the Digital Rupee: The bill proposes the creation of a Digital Rupee, a virtual currency backed by the Pakistani Rupee (PKR) and regulated by the State Bank of Pakistan.
Establishment of Virtual Asset Zones: These designated areas will facilitate the trading and management of cryptocurrencies, aiming to ensure financial stability, protect investors, and prevent illicit activities such as money laundering and terrorism financing.
These initiatives reflect Pakistan's commitment to integrating cryptocurrencies and blockchain technology into its economy, aiming to unlock the potential benefits of digital assets while mitigating inherent risks.
As the regulatory landscape evolves, staying informed about these developments is crucial for individuals and businesses involved in the digital economy.
*Note: The information provided is based on recent reports and legislative proposals as of March 2, 2025.*