Here's a rundown of the latest crypto news and developments in Pakistan:
*Recent Developments*
Here's a rundown of the latest crypto news and developments in Pakistan: Recent Developments - Pakistan is moving to regulate cryptocurrency and central bank digital currencies (CBDCs) as legal tender, with the State Bank of Pakistan (SBP) proposing amendments to its standing policy. - The country aims to recognize crypto as a strategic asset and build strong regulatory frameworks, with over 20 million Pakistanis actively using digital assets despite previous bans ¹ ². - A national crypto council is being established to create a secure investment ecosystem for digital assets, with Bilal bin Saqib, a Forbes-recognized entrepreneur, appointed as chief adviser to the finance minister ². Partnerships and Initiatives - Pakistan has signed a landmark blockchain deal with World Liberty Financial, a DeFi platform backed by US President Donald Trump, to advance blockchain innovation and increase stablecoin adoption. - The partnership focuses on regulatory sandboxes, tokenization of assets, and DeFi growth, positioning Pakistan as a global leader in digital finance. - Pakistan is also exploring the use of surplus electricity for Bitcoin mining, seeking global partnerships to turn wasted energy into digital assets ³ ⁴. Market Trends - Pakistan's cryptocurrency market is growing rapidly, with revenue expected to reach $1.6 billion by 2025 and 27.10 million users. - The country ranks among the top 10 nations globally for crypto adoption, with a significant portion of the population invested in digital assets ⁵ ⁶. Regulatory Landscape - The SBP has previously deemed virtual currencies like Bitcoin and Litecoin illegal, but the government is now working towards a regulatory framework. - The proposed amendments aim to limit illicit trading and establish penalties for non-authorized digital asset exchange facilitators ¹.$BTC $BNB
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