🚨🚨 #PakistanCryptoCouncil 🚨🚨
Pakistan is taking important steps to regulate cryptocurrency! 🚀🇵🇰
The government has created a National Crypto Council to help integrate digital assets into the country’s financial system. A chief advisor on crypto has also been appointed to lead this change. 🔥
This comes after years of caution. The State Bank of Pakistan had banned crypto transactions, but increasing public interest and global trends are now pushing for change. 🌍📈
The government plans to update key financial laws, like the SBP Act, FBR tax laws, and AML/KYC rules to include cryptocurrencies. 📜✅
Pakistan intends to classify cryptocurrencies based on their use—whether for payments, investments, or smart contracts. This approach will avoid overregulation while keeping financial transparency. ⚖️💡
The government is also looking at international models, such as the EU’s MiCA, the U.S. multi-agency system, and Japan’s classification of crypto as legal property, to create a plan that suits Pakistan’s economy. 🌐🏛️
Plans include licensing crypto traders, exchanges, and wallet providers, as well as ensuring they follow AML/KYC rules and pay taxes. 💰🔐
To protect users and prevent fraud, the government will strengthen cybersecurity, consumer protection, and dispute resolution systems. 🛡️🔎
Finally, Pakistan will focus on training institutions like the SBP and SECP, and work with global organizations like FATF and IMF to make informed decisions about crypto regulation. 🤝📊
This roadmap shows Pakistan’s goal to become a regional leader in blockchain technology, attract foreign investment, and promote digital financial inclusion. 🌟💸🚀