Crypto in Pakistan: Legal Gray Area or Hidden Opportunity? (No Sugarcoating)**
Pakistan’s crypto scene is heating up, but is it legal? Spoiler: *It’s complicated.* Let’s unpack the messy mix of bans, court rulings, and underground adoption—straight facts, no fluff.
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### **🇵🇰 Where Does Pakistan Stand?**
- **2018**: State Bank of Pakistan (SBP) banned banks from processing crypto transactions.
- **2021**: Sindh High Court ordered the government to *regulate*, not ban, crypto. Result? Radio silence.
- **2023**: Crypto remains in limbo—**not illegal**, but banks still block crypto trades.
### **🚀 Why Pakistanis Still Risk It**
- **DeFi Access**: Earn yield on savings (huge when banks offer ~10% inflation-adjusted *losses*).
- **Dollar Escape**: Stablecoins like USDT let Pakistanis preserve wealth as the rupee crashes.
- **Freelancer Lifeline**: Crypto payments bypass PayPal restrictions for IT workers.
