Bilal Bin Sakb, CEO of the Pakistan Cryptology Council, suggested that the country's surface flow capacity be used to calm Bitcoin mining (BTC) at the Crypting Council meeting on March 21.
According to condition From the nation, the Council explores the comprehensive regulatory frameworks of encrypted currencies to attract foreign direct investment and establish Pakistan as an encryption center.
Among the meeting are legislators, the ruler of the Bank of Pakistan, Chairman of the Securities and Stock Exchange Committee in Pakistan (SECP), and federal information technology secretary. The Senator Muhammad Uranzib had this statement about the meeting:
“This is the beginning of a new digital separation for our economy. We are committed to building a transparent and ready -made financial environmental system in the future that attracts investment, enables our youth, and places Pakistan on the global map as a pioneer in emerging technologies.”
The encryption council is a radical departure from the position of the previous Pakistan government on encryption. In May 2023, the former minister of finance and revenue, Aisha Guza Pasha said that Crypto would not be legal in the country.
Pasha cited anti -money laundering restrictions under the Financial Procedure Squad (FATF) as the main motive for the government's position to combat Crydpto.
Bitcoin miners can be stable electrical networks. source: Direct science
Related to: Pakistan Eyes encrypts the legal framework for enhancing foreign investment
Pakistan follows the United States to embrace encryption
The Pakistan government to organize encrypted currencies moved as a legal tendency on November 4, 2024 – on the same day that the elections were in the United States.
After the re -election of Donald Trump in the United States and installed on January 20, Trump quickly moved to create pro -Rabat policies at the federal level.
On January 23, President Trump signed an executive order establishing the working group on digital assets – an executive council charged with exploring comprehensive regulatory reform on digital assets.
President Trump signs the executive order that creates the president's working group on digital assets. source: White House
On January 23, the matter also banned the government from researching, developing or issuing a digital currency for the Central Bank (CBDC).
President Trump has also signed an executive thing that creates a strategic reserve for Bitcoin and separate digital assets in March 2025, which is likely to include cryptocurrency -made currencies.
magazine: How encryption laws change all over the world in 2025
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