Pakistan is moving towards legalizing cryptocurrencies. A proposed change to the State Bank of Pakistan (SBP) Act would officially recognize digital currencies like Bitcoin and allow the SBP to issue its own digital currency. This shift would allow crypto to be used for transactions, and the SBP would regulate digital currencies. A ‘National Crypto Council’ is also being considered to oversee this process. While not fully implemented yet, these changes could make crypto a bigger part of Pakistan’s financial system in the future.
