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Pakistan moves to recognise digital currency

The State Bank of Pakistan (SBP) has proposed a significant framework to recognise digital assets, including

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cryptocurrency, as legal currency in Pakistan. If approved, the plan would allow the SBP to issue its digital currency, potentially paving the way for a central bank digital currency (CBDC) within the country. This shift would mark a major departure from the SBP’s previous cautionary stance on virtual currencies.