šµš° Pakistan's Crypto Crossroads: From Ban to Boom?
#Pakistan is undergoing a significant transformation in its approach to #cryptocurrency . While the State Bank of Pakistan's 2018 ban on cryptocurrencies once stifled innovation, recent developments signal a shift towards embracing digital assets.
The establishment of the Pakistan #Crypto Council (PCC) in March 2025 marks a pivotal step. Led by Finance Minister Muhammad Aurangzeb and CEO Bilal Bin Saqib, the PCC aims to develop a comprehensive regulatory framework for digital assets, promote blockchain technology, and integrate Pakistan into the global digital economy. .https://en.wikipedia.org/wiki/Pakistan_Crypto_Council?utm_source=chatgpt.com
https://humenglish.com/latest/could-pakistans-crypto-council-pave-the-way-for-legalised-digital-currency/?utm_source=chatgpt.com
In a bold move to leverage surplus electricity and foster technological advancement, Pakistan's finance ministry announced the allocation of 2,000 megawatts of electricity to power Bitcoin mining and AI data centers . This initiative is expected to attract foreign investment and create high-tech employment opportunities.
https://www.reuters.com/sustainability/boards-policy-regulation/pakistan-allocates-2000-megawatts-electricity-bitcoin-mining-ai-data-centres-2025-05-25/?utm_source=chatgpt.com
Despite these positive strides, challenges remain. The absence of clear legal status for cryptocurrencies has led to concerns over illicit activities and market volatility. However, the government's proactive measures indicate a commitment to addressing these issues and fostering a secure, innovative financial ecosystem.
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