🔥🩸‼️IMF Blocks 🇵🇰Pakistan's Crypto Power Push Amid Legal & Fiscal Fears ‼️🚨🩸
🇵🇰Pakistan’s ambitious plan to allocate 2,000MW of electricity for Bitcoin mining and AI data centers has hit a major roadblock — the IMF isn’t on board.
During a Senate committee meeting, Power Secretary Dr. Fakhray Alam Irfan confirmed that the IMF rejected the proposal, citing risks of market distortion, legal grey zones, and pressure on the already strained power grid.
The #IMF was also frustrated that Pakistan announced the plan without prior consultation, warning that subsidized electricity for crypto ventures could hurt the energy sector and pricing structure.
Despite rejection, #Pakistan ’s government says it’s still negotiating with the IMF to reshape the initiative, originally led by the Pakistan Crypto Council and supported by the Finance Ministry.
The plan aims to convert surplus electricity into income, draw in foreign investment, and foster digital jobs — but regulatory and energy security concerns persist.
Interestingly, #Binance founder Changpeng Zhao #CZ had a role as an advisor on the project — a twist that’s raised further debate after his legal troubles in the US.
With over 15–20 million crypto users and growing adoption, Pakistan is eager to tap into blockchain opportunities. But for now, the IMF's red tape is a major hurdle.
