SBP Proposes Legal Recognition of Digital Assets in Pakistan

The State Bank of Pakistan (SBP) has proposed a major policy shift to recognize digital assets, including cryptocurrency, as legal currency. If approved, the amendment would enable SBP to issue its own digital currency, potentially paving the way for a central bank digital currency (CBDC).

The proposal also grants SBP authority over digital and physical currency management while penalizing unauthorized issuers. Additionally, it suggests lifting restrictions on dual nationals in senior SBP roles, aligning with the government’s broader strategy to modernize Pakistan’s financial sector.

#Pakistan #DigitalCurrency #SBP