There is a common misconception that Pakistan has officially legalized cryptocurrency. In reality, the country has not yet granted legal status to digital assets. Instead, Pakistan has taken a significant step by establishing a Crypto Council, which will work toward formulating policies and frameworks for potential regulation.
The formation of the council indicates a shift in the government's approach, moving from outright restrictions to exploring the possibilities of regulation. However, until clear legal frameworks are introduced, cryptocurrency remains in a gray area within Pakistan’s financial system.
Invesstors and traders should stay informed and exercise caution, as regulatory developments are still in progress. While the Crypto Council’s efforts may lead to future legalization, for now, crypto trading operates without formal legal backing in the country.$VIB
