Pakistan's Cryptocurrency Council Suggests Harnessing Excess Energy for Bitcoin Mining$ETH

Bilal Bin Saqib, CEO of Pakistan's Cryptocurrency Council, has proposed leveraging the nation's surplus energy to support Bitcoin mining activities. This idea was introduced during the council's first meeting on March 21. The formation of the Cryptocurrency Council represents a notable departure from the Pakistani government's earlier position on digital currencies. In May 2023, Aisha Ghaus Pasha, then Minister of State for Finance and Revenue, had declared that cryptocurrencies would not be legalized in Pakistan.

In a related move, Pakistan is also working on establishing a regulatory framework for cryptocurrency trading to draw foreign investment.