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The currency expert cautioned that launching a cryptocurrency may take time, “as there are a lot of risks associated with the digital currency, which needs to be managed”. Pakistan currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees, said the Finance Division. Earlier, Finance Minister Muhammad Aurangzeb urged authorities, including the State Bank of Pakistan (SBP) to approach the potential introduction of cryptocurrency with an “open mind” amid significant developments in digital banking in Pakistan. “The reality is that crypto is already in vogue here in the informal market and the numbers are what they are, even if they are one-fourth of what the numbers are being moved around, we need to think through and be ahead of the cycle in terms of the regulatory regime and think on how to move forward with AI and digital assets (in Pakistan),” Aurangzeb, who is also a former senior banker, said while addressing at the ‘Pakistan Banking Summit 2025’ in Karachi.
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Major U-Turn in Crypto Markets Sends Bitcoin Back Below $87K The U.S. stock market has turned lower as well ahead of coming tariffs against major trade partners. What to know: Bitcoin is trading $87,600, now barely higher than its level prior to Trump's Sunday crypto reserve posting. Ether has more than given up its Sunday gains, hitting a new five-year low relative to bitcoin. U.S. stocks have turned solidly lower as investors mull coming tariffs against Mexico, Canada and China. Sunday's Trump bump in crypto has mostly vanished nearly as quickly as it appeared. In mid-afternoon U.S. action, bitcoin (BTC) is changing hands at $86,700, barely above its level prior to President Trump taking to social media Sunday to tout his plans for coming U.S. crypto reserve.
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