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My identity is Pakistan and I am proud to be a Pakistani.
*Happy Independence Day*
*Pakistan ZindabadâŠ*
â€ïžâ€ïž
#pakistan #BinanceLaunchpoolTON #CryptoMarketMoves #BlackRockETHOptions #Babylon_Mainnet_Launch
*Happy Independence Day*
*Pakistan ZindabadâŠ*
â€ïžâ€ïž
#pakistan #BinanceLaunchpoolTON #CryptoMarketMoves #BlackRockETHOptions #Babylon_Mainnet_Launch
Crypto Ban in Pakistan?
State Bank of Pakistan has declared its stance on cryptocurrency, stating that it will not legalize digital currencies in the country. Additionally, the Financial Action Task Force (FATF) has also urged Pakistan to impose a ban on cryptocurrencies.
The State Bank of Pakistan's decision to prohibit the legalization of cryptocurrencies reflects their concerns regarding the potential risks and challenges associated with digital currencies. The central bank believes that cryptocurrencies can facilitate illegal activities such as money laundering and terrorism financing.
Furthermore, the FATF, an international organization that sets standards for combating money laundering and terrorist financing, has recommended that Pakistan ban cryptocurrencies to align with global efforts to mitigate financial risks.
This development highlights the regulatory stance of Pakistan towards cryptocurrencies and raises questions about the future of digital currency adoption and trading in the country.
#Binance #crypto2023 #pakistan #dyor #cryptoban
The State Bank of Pakistan's decision to prohibit the legalization of cryptocurrencies reflects their concerns regarding the potential risks and challenges associated with digital currencies. The central bank believes that cryptocurrencies can facilitate illegal activities such as money laundering and terrorism financing.
Furthermore, the FATF, an international organization that sets standards for combating money laundering and terrorist financing, has recommended that Pakistan ban cryptocurrencies to align with global efforts to mitigate financial risks.
This development highlights the regulatory stance of Pakistan towards cryptocurrencies and raises questions about the future of digital currency adoption and trading in the country.
#Binance #crypto2023 #pakistan #dyor #cryptoban
ALARMING NEWS ALERT âŒïžđšâŒïžâŒïžâŒïžđšâŒïžâŒïžđš
In Pakistan, People's are encountered three P2P forward disputes on Binance, not due to buyer complaints, but because their accounts were blocked, which in turn led to my account being blocked. Each dispute had common factors: the buyers engaged in deals outside of Binance, received payments from others, bought USDT from me, and then sold it at a higher rate elsewhere.
In all three cases, the buyers were new and made transactions outside of Binance. They negotiated deals, received money from third parties, purchased USDT from me, and sold it without securing proof or sources of funds from those they transacted with. Subsequently, the original senders of the funds filed fraud complaints against the buyers, resulting in the buyers' accounts being blocked and subsequently my account as well. In one dispute, after investigation, the payment was credited to my account as one buyer settled with the sender. However, in the remaining two cases, the buyers did not settle, and I had to reverse the payments for the disputed transactions.
Binance implements robust security measures for merchants, but many users try to buy USDT from Binance and sell it outside the platform. To ensure safer transactions when selling on Binance P2P, always obtain a video statement and the buyer's mobile number. The CNIC is less valuable in these cases. A video statement provides more substantial evidence of a legitimate transaction. Alternatively, record a video of their transaction history from the last 24 hours. If the payment is received in their account, request the CNIC of the person who sent the funds, or cancel the trade. This approach is safer and helps to avoid disputes.
Taking these precautions will help protect your account and ensure more secure transactions on Binance P2P. It is crucial to stay vigilant and ensure all necessary evidence is collected to avoid the complications I experienced.
#scam #pakistan
In Pakistan, People's are encountered three P2P forward disputes on Binance, not due to buyer complaints, but because their accounts were blocked, which in turn led to my account being blocked. Each dispute had common factors: the buyers engaged in deals outside of Binance, received payments from others, bought USDT from me, and then sold it at a higher rate elsewhere.
In all three cases, the buyers were new and made transactions outside of Binance. They negotiated deals, received money from third parties, purchased USDT from me, and sold it without securing proof or sources of funds from those they transacted with. Subsequently, the original senders of the funds filed fraud complaints against the buyers, resulting in the buyers' accounts being blocked and subsequently my account as well. In one dispute, after investigation, the payment was credited to my account as one buyer settled with the sender. However, in the remaining two cases, the buyers did not settle, and I had to reverse the payments for the disputed transactions.
Binance implements robust security measures for merchants, but many users try to buy USDT from Binance and sell it outside the platform. To ensure safer transactions when selling on Binance P2P, always obtain a video statement and the buyer's mobile number. The CNIC is less valuable in these cases. A video statement provides more substantial evidence of a legitimate transaction. Alternatively, record a video of their transaction history from the last 24 hours. If the payment is received in their account, request the CNIC of the person who sent the funds, or cancel the trade. This approach is safer and helps to avoid disputes.
Taking these precautions will help protect your account and ensure more secure transactions on Binance P2P. It is crucial to stay vigilant and ensure all necessary evidence is collected to avoid the complications I experienced.
#scam #pakistan
Der Pakistani Traders Vote and show them that we want crypto in Pakistan .
"Do You Agree on the decision of Crypto Ban in Pakistan ?"
#Binance #crypto #ban #pakistan #crypto2023
"Do You Agree on the decision of Crypto Ban in Pakistan ?"
#Binance #crypto #ban #pakistan #crypto2023
We want Crypto in Pakistan
92%
Crypto should be Ban in Pak
8%
379 votes âą Voting closed
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ÛÚș Ű۱ۧÙ
Ú©ÚŸŰ§ÙÛ ÙۧÙÛ Ű§Ù۱ ÙۧÙÚÚŸÛ ÙÙÚŻ ÛÛÚș ۧ۳ ÙŰŹÛ ŰłÛ ŰčŰČۧۚ Ù
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ŰšŰȘÙۧ
ÛÛÚș ÙŰ§Ù Ú©Û Ù ŰłÙÙ Ű§Ù
ۧ۳ ÙŰŹÛ ŰłÛ ÙŸŰ§Ú©ŰłŰȘŰ§Ù Ù ÛÚș p2p ÙÛ Ú©Ű±Ù ŰȘÙ ŰšÛŰȘ۱ ÛÛ ŰŽÚ©Ű±ÛÛ #Scam #pakistan #p2p #cryptocrurrency #crypto #btc
ÛÛÚș ÙŰ§Ù Ú©Û Ù ŰłÙÙ Ű§Ù
ۧ۳ ÙŰŹÛ ŰłÛ ÙŸŰ§Ú©ŰłŰȘŰ§Ù Ù ÛÚș p2p ÙÛ Ú©Ű±Ù ŰȘÙ ŰšÛŰȘ۱ ÛÛ ŰŽÚ©Ű±ÛÛ #Scam #pakistan #p2p #cryptocrurrency #crypto #btc
in coming days Pakistan also legalized cryptocurrency and shiba Inu will be accepted in major stores #pakistan #shibabullbear #ShibaInu:
assalamualaikum
namaz is the key đïž of success
agr ap log treading karrhy to pls nmaz ko start kardy meri trade lagi ho loss ma chal rahi ho ya profit ma namaz ka time jesy hota ma nmaz ki traf first jata ma agr aj thora bht crypto ma kamyab hun to just namz ki wja sa alhumdulilah $BTC $SOL #pakistan #crypto
namaz is the key đïž of success
agr ap log treading karrhy to pls nmaz ko start kardy meri trade lagi ho loss ma chal rahi ho ya profit ma namaz ka time jesy hota ma nmaz ki traf first jata ma agr aj thora bht crypto ma kamyab hun to just namz ki wja sa alhumdulilah $BTC $SOL #pakistan #crypto
Saudi Aramco, a prominent global energy and chemicals enterprise, has advanced its international retail expansion by finalizing the purchase of a 40% equity interest in Gas & Oil Pakistan Ltd. (GO).
This milestone was officially disclosed by the oil giant on its corporate website. GO operates as a diversified downstream fuels, lubricants, and retail store operator in Pakistan, boasting a network exceeding 1,200 retail fuel stations.
Initially unveiled in December 2023, this acquisition marks Aramcoâs inaugural downstream retail investment in Pakistan, underscoring the company's escalating retail footprint in lucrative markets. In a separate transaction, Aramco also secured complete ownership of Esmax DistribuciĂłn SpA (âEsmaxâ), a prominent diversified downstream fuels and lubricants retailer in Chile.
Yasser Mufti, Aramcoâs Executive Vice President of Products & Customers, emphasized the significance of this expansion, stating, âOur global retail expansion is gathering momentum, and this acquisition represents a pivotal advancement in our journey. Through our strategic alliance with GO, we eagerly anticipate delivering Aramcoâs superior products and services to esteemed customers in Pakistan.â
#Oilcompany #Saudiaramco #pakistan #worldsbiggest
$BTC
$ETH
$BNB
This milestone was officially disclosed by the oil giant on its corporate website. GO operates as a diversified downstream fuels, lubricants, and retail store operator in Pakistan, boasting a network exceeding 1,200 retail fuel stations.
Initially unveiled in December 2023, this acquisition marks Aramcoâs inaugural downstream retail investment in Pakistan, underscoring the company's escalating retail footprint in lucrative markets. In a separate transaction, Aramco also secured complete ownership of Esmax DistribuciĂłn SpA (âEsmaxâ), a prominent diversified downstream fuels and lubricants retailer in Chile.
Yasser Mufti, Aramcoâs Executive Vice President of Products & Customers, emphasized the significance of this expansion, stating, âOur global retail expansion is gathering momentum, and this acquisition represents a pivotal advancement in our journey. Through our strategic alliance with GO, we eagerly anticipate delivering Aramcoâs superior products and services to esteemed customers in Pakistan.â
#Oilcompany #Saudiaramco #pakistan #worldsbiggest
$BTC
$ETH
$BNB
#MyFirstSquarePost New to Binance Square, thrilled to share and connect with everyone here!
What Is This #moonbix #pakistan
What Is This #moonbix #pakistan
The decision to ban cryptocurrencies in Pakistan is disappointing and unfortunate. The government should reconsider its stance and allow its citizens to benefit from this innovative technology. #crypto2023 #Binance #BTC #pakistan
p2p scam alert!
ۧÛŰČÛ ÙŸÛŰłÛ ŰłÛ Ùč۱ÛÚ Ú©Ű±ÙÛ ÙۧÙÛ ŰźŰšŰ±ŰŻŰ§Ű± ÛÙ ŰŹŰ§ŰŠÛÚș
Ù ÛÚș ÙÛ Ű§ÛÚ© ŰšÙŰŻÛ ( ۧکۧۀÙÙč ÙŰ§Ù ŰšŰ§ŰźŰ§Ù Ű Ű§Ű”Ù ÙŰ§Ù : Ù ŰÙ ŰŻ ۧ۳ÙÙ ) ÙŰ§Ù Û ŰŽŰźŰ” Ú©Ù 85000 ۱ÙÙŸÛ Ú©Û ÚۧÙ۱ ŰšÛÚÛ p2p ۧ۳ ÙÛ Ù ŰŹÚŸÛ Ù ÛŰČŰ§Ù ŰšÙÚ© ŰłÛ Ù ÛŰ±Û Ű§ÛŰČÛ Ű§Ú©Ű§Ű€ÙÙč Ù ÛÚș ۧۯۧۊÛÚŻÛ Ú©Û ÛÛ ŰšÙŰŻÛ ŰłÚ©ÛÙ Ű± ŰȘÚŸŰ§ ۧ۳ ÙÛ Úۧ۱ۏ ŰšÛÚ© Ùگۧ ŰŻÛۧ
ŰŹŰł Ú©Û ŰšŰčŰŻ ۧÛŰČÛ ÙŸÛŰłÛ ÙÛ Ù Û۱ۧ ۧکۧۀÙÙč ŰšÙۧک ک۱ ŰŻÛۧ
ۧ۳ Ú©Û ŰšŰčŰŻ Ù ÛÚș ÙÛ ŰšŰ§ŰŠÙۧÙŰł Ú©Ù ŰšŰȘۧÛۧ ۧÙÛÙÚș ÙÛ Ű«ŰšÙŰȘ Ù Ű§Ùگۧ Ù ÛÚș ÙÛ Ű§ÛÙ Ù ŰŻÛÚ©ÚŸŰ§ŰŠÛ ÙŸÚŸŰ± ۚۧۊÙۧÙŰł ÙčÛÙ ÙÛ Ű§Űł ÛÙŰČ Ú©Ù ŰšÙۧک ک۱ ŰŻÛۧÛ
ÙÛÚ©Ù ÙÛ ŰšÙŰŻÛ ŰȘŰš ŰȘÚ© Ű§ÙŸÙۧ ۳ۧ۱ۧ ŰšÛÙÙŰł ÙÛ Ú©Ű± Ù۱ۧ۱ ÛÙ ÚŻÛۧÛ
ۧ۳ Ú©Û ŰšŰčŰŻ ۚۧۊÙۧÙŰł ÙÛ Ù ŰŹÚŸÛ Ùč۱ÛÚ ŰłÙÙŸ ŰŻÛ ŰŹÙ Ú©Û Ù ÛÚș ÙÛ Ű§ÙŸÙÛ ÙÛÙč۱ Ú©Û ŰłŰ§ŰȘÚŸ ۧÙčÛÚ Ú©Ű± Ú©Û Ű§ÛŰČÛ ÙŸÛŰłÛ Ú©Ù Ű§Û Ù ÛÙ Ú©ÛÛ
ۧ۳ Ú©Û ŰšŰčŰŻ Ù ŰŹÚŸÛ Ú©ÙŰŠÛ ŰŹÙۧۚ ۧÛŰČÛ ÙŸÛŰłÛ ÙÛ ÙÛÛÚș ŰŻÛŰ§Û ŰŹŰš Ù ÛÚș ÙÛ Ű§Ù ŰłÛ ŰŻÙŰšŰ§Ű±Û ŰłÙŰŽÙ Ù ÛÚÙ°Ûۧ ۧکۧۀÙÙč ÙŸŰ± ێکۧÛŰȘ ÙÙ ŰšŰ± ÙÚ©ÚŸ ک۱ ÙŸÙÚÚŸŰ§ Ú©Û Ù ÛŰ±Û Ű§Ú©Ű§Ű€ÙÙč ŰšŰۧÙÛ Ú©Û Ú©Ûۧ Ű§ÙŸÚÛÙč ÛÛÚș ŰȘÙ Ù ŰŹÚŸÛ ŰšŰȘۧŰȘۧ ÚŻÛۧ Ú©Û Ù Û۱ۧ ۧکۧۀÙÙč ŰšŰŰ§Ù ÙÛÛÚș Ú©Ûۧ ۏۧ ŰłÚ©ŰȘۧ ۧÙ۱ ÙÛ ÛÛ Ù ÛÚș Ű§ÙŸÙÛ ÙŸÛŰłÛ ÙÚ©ÙÙۧ ŰłÚ©ŰȘۧ ÛÙÚș
ۧÙŰłÙŰł ÛÛ Ú©Û ÙŸŰ§Ú©ŰłŰȘŰ§Ù Ú©Û ÚŻÙŰŻÛ ŰȘ۱ÛÙ Ű§Û ÙۧۊÙÙč ۧکۧۀÙÙč ŰłÛ Ù ÛÚș ÙÛ Ùč۱ÛÚ Ú©Û Ű§Ù۱ ۧ۳ Ű·Ű±Ű Ù Û۱ۧ ۳ۧŰȘ ÙŰ§Ú©ÚŸ ŰłÛ ŰČÛŰ§ŰŻÛ Ú©Ű§ ŰšÛÙÙŰł ۧÛŰČÛ ÙŸÛŰłÛ ÙÛ Ű¶ŰšŰ· ک۱ ÙÛۧ Û
ŰšŰ±Ű§Û Ú©Ű±Ù Û Ű§ÚŻŰ± Ú©ÙŰŠÛ ŰŽŰźŰ” ۧÛŰČÛ ÙŸÛŰłÛ Ù ÛÚș ÙۧÙÙÛŰȘ Ű±Ú©ÚŸŰȘۧ ÛÛ Ûۧ ŰšÛÙÚ© Ú©Û ŰłŰłÙčÙ Ú©Ù ŰłŰŹÚŸŰȘۧ ÛÛ Ű§Ù۱ Ù ÛŰ±Û Ű§Ú©Ű§Ű€ÙÙč Ú©Ù ŰšŰŰ§Ù Ú©Ű±ÙۧÙÛ Ù ÛÚș Ù ŰŻŰŻ ک۱Ùۧ ÚۧÛÛ ŰȘÙ Ù ŰŹÚŸ ŰłÛ Ű±Ű§ŰšŰ·Û Ú©Ű±ÛÛ ŰŽÚ©Ű±ÛÛ
#easypaisa #p2p #p2pscam #scam #pakistan
ۧÛŰČÛ ÙŸÛŰłÛ ŰłÛ Ùč۱ÛÚ Ú©Ű±ÙÛ ÙۧÙÛ ŰźŰšŰ±ŰŻŰ§Ű± ÛÙ ŰŹŰ§ŰŠÛÚș
Ù ÛÚș ÙÛ Ű§ÛÚ© ŰšÙŰŻÛ ( ۧکۧۀÙÙč ÙŰ§Ù ŰšŰ§ŰźŰ§Ù Ű Ű§Ű”Ù ÙŰ§Ù : Ù ŰÙ ŰŻ ۧ۳ÙÙ ) ÙŰ§Ù Û ŰŽŰźŰ” Ú©Ù 85000 ۱ÙÙŸÛ Ú©Û ÚۧÙ۱ ŰšÛÚÛ p2p ۧ۳ ÙÛ Ù ŰŹÚŸÛ Ù ÛŰČŰ§Ù ŰšÙÚ© ŰłÛ Ù ÛŰ±Û Ű§ÛŰČÛ Ű§Ú©Ű§Ű€ÙÙč Ù ÛÚș ۧۯۧۊÛÚŻÛ Ú©Û ÛÛ ŰšÙŰŻÛ ŰłÚ©ÛÙ Ű± ŰȘÚŸŰ§ ۧ۳ ÙÛ Úۧ۱ۏ ŰšÛÚ© Ùگۧ ŰŻÛۧ
ŰŹŰł Ú©Û ŰšŰčŰŻ ۧÛŰČÛ ÙŸÛŰłÛ ÙÛ Ù Û۱ۧ ۧکۧۀÙÙč ŰšÙۧک ک۱ ŰŻÛۧ
ۧ۳ Ú©Û ŰšŰčŰŻ Ù ÛÚș ÙÛ ŰšŰ§ŰŠÙۧÙŰł Ú©Ù ŰšŰȘۧÛۧ ۧÙÛÙÚș ÙÛ Ű«ŰšÙŰȘ Ù Ű§Ùگۧ Ù ÛÚș ÙÛ Ű§ÛÙ Ù ŰŻÛÚ©ÚŸŰ§ŰŠÛ ÙŸÚŸŰ± ۚۧۊÙۧÙŰł ÙčÛÙ ÙÛ Ű§Űł ÛÙŰČ Ú©Ù ŰšÙۧک ک۱ ŰŻÛۧÛ
ÙÛÚ©Ù ÙÛ ŰšÙŰŻÛ ŰȘŰš ŰȘÚ© Ű§ÙŸÙۧ ۳ۧ۱ۧ ŰšÛÙÙŰł ÙÛ Ú©Ű± Ù۱ۧ۱ ÛÙ ÚŻÛۧÛ
ۧ۳ Ú©Û ŰšŰčŰŻ ۚۧۊÙۧÙŰł ÙÛ Ù ŰŹÚŸÛ Ùč۱ÛÚ ŰłÙÙŸ ŰŻÛ ŰŹÙ Ú©Û Ù ÛÚș ÙÛ Ű§ÙŸÙÛ ÙÛÙč۱ Ú©Û ŰłŰ§ŰȘÚŸ ۧÙčÛÚ Ú©Ű± Ú©Û Ű§ÛŰČÛ ÙŸÛŰłÛ Ú©Ù Ű§Û Ù ÛÙ Ú©ÛÛ
ۧ۳ Ú©Û ŰšŰčŰŻ Ù ŰŹÚŸÛ Ú©ÙŰŠÛ ŰŹÙۧۚ ۧÛŰČÛ ÙŸÛŰłÛ ÙÛ ÙÛÛÚș ŰŻÛŰ§Û ŰŹŰš Ù ÛÚș ÙÛ Ű§Ù ŰłÛ ŰŻÙŰšŰ§Ű±Û ŰłÙŰŽÙ Ù ÛÚÙ°Ûۧ ۧکۧۀÙÙč ÙŸŰ± ێکۧÛŰȘ ÙÙ ŰšŰ± ÙÚ©ÚŸ ک۱ ÙŸÙÚÚŸŰ§ Ú©Û Ù ÛŰ±Û Ű§Ú©Ű§Ű€ÙÙč ŰšŰۧÙÛ Ú©Û Ú©Ûۧ Ű§ÙŸÚÛÙč ÛÛÚș ŰȘÙ Ù ŰŹÚŸÛ ŰšŰȘۧŰȘۧ ÚŻÛۧ Ú©Û Ù Û۱ۧ ۧکۧۀÙÙč ŰšŰŰ§Ù ÙÛÛÚș Ú©Ûۧ ۏۧ ŰłÚ©ŰȘۧ ۧÙ۱ ÙÛ ÛÛ Ù ÛÚș Ű§ÙŸÙÛ ÙŸÛŰłÛ ÙÚ©ÙÙۧ ŰłÚ©ŰȘۧ ÛÙÚș
ۧÙŰłÙŰł ÛÛ Ú©Û ÙŸŰ§Ú©ŰłŰȘŰ§Ù Ú©Û ÚŻÙŰŻÛ ŰȘ۱ÛÙ Ű§Û ÙۧۊÙÙč ۧکۧۀÙÙč ŰłÛ Ù ÛÚș ÙÛ Ùč۱ÛÚ Ú©Û Ű§Ù۱ ۧ۳ Ű·Ű±Ű Ù Û۱ۧ ۳ۧŰȘ ÙŰ§Ú©ÚŸ ŰłÛ ŰČÛŰ§ŰŻÛ Ú©Ű§ ŰšÛÙÙŰł ۧÛŰČÛ ÙŸÛŰłÛ ÙÛ Ű¶ŰšŰ· ک۱ ÙÛۧ Û
ŰšŰ±Ű§Û Ú©Ű±Ù Û Ű§ÚŻŰ± Ú©ÙŰŠÛ ŰŽŰźŰ” ۧÛŰČÛ ÙŸÛŰłÛ Ù ÛÚș ÙۧÙÙÛŰȘ Ű±Ú©ÚŸŰȘۧ ÛÛ Ûۧ ŰšÛÙÚ© Ú©Û ŰłŰłÙčÙ Ú©Ù ŰłŰŹÚŸŰȘۧ ÛÛ Ű§Ù۱ Ù ÛŰ±Û Ű§Ú©Ű§Ű€ÙÙč Ú©Ù ŰšŰŰ§Ù Ú©Ű±ÙۧÙÛ Ù ÛÚș Ù ŰŻŰŻ ک۱Ùۧ ÚۧÛÛ ŰȘÙ Ù ŰŹÚŸ ŰłÛ Ű±Ű§ŰšŰ·Û Ú©Ű±ÛÛ ŰŽÚ©Ű±ÛÛ
#easypaisa #p2p #p2pscam #scam #pakistan
SBP is Ready to Launch Pakistanâs First Digital Currency
The State Bank of Pakistan (SBP) is all set to kick start a pilot launch of digital currency in the next few months. #pakistan $BTC $ETH
After completing the required groundwork, the SBP will go for the pilot launch of Pakistanâs first digital currency within two months, according to the Arab News quoting Deputy Government SBP Sima Kamil.
She was quoted that the sandbox will be launched in a month or two in a controlled environment provided for testing innovative products, services, or business models in a limited and supervised manner.
Kamil added that the launch of the digital currency was a part of their five-year strategy âSBP Vision 2028âł.
The banking regulator has been reluctant to legalize digital currency within the country such as including Bitcoin, Litecoin, Pakcoin, OneCoin, and DasCoin, ultimately declaring them as illegal despite significant investors parking their investment in digital tenders.
However, the banking regulator came up with the idea to introduce its own digital currency. The deputy governorof SBP clarified that CBDCs are different from cryptocurrencies.
Central Bank digital currencies (CBDCs) are more secure compared to cryptocurrencies and are designed to complement existing physical cash and traditional forms of electronic money. The currencies are built on blockchain technology (DLT) and are intended to provide a secure and efficient means of conducting digital transactions.
CBDCs have been launched by a handful of countries so far while other countries and central banks are examining them.
According to Atlantic Council CBDC tracker, so far, only Nigeria, Jamaica, and Bahamas have launched their CBDCs while other countries including China, India, Saudi Arabia, France, Ghana, Canada, and Uruguay have launched their pilots.
After completing the required groundwork, the SBP will go for the pilot launch of Pakistanâs first digital currency within two months, according to the Arab News quoting Deputy Government SBP Sima Kamil.
She was quoted that the sandbox will be launched in a month or two in a controlled environment provided for testing innovative products, services, or business models in a limited and supervised manner.
Kamil added that the launch of the digital currency was a part of their five-year strategy âSBP Vision 2028âł.
The banking regulator has been reluctant to legalize digital currency within the country such as including Bitcoin, Litecoin, Pakcoin, OneCoin, and DasCoin, ultimately declaring them as illegal despite significant investors parking their investment in digital tenders.
However, the banking regulator came up with the idea to introduce its own digital currency. The deputy governorof SBP clarified that CBDCs are different from cryptocurrencies.
Central Bank digital currencies (CBDCs) are more secure compared to cryptocurrencies and are designed to complement existing physical cash and traditional forms of electronic money. The currencies are built on blockchain technology (DLT) and are intended to provide a secure and efficient means of conducting digital transactions.
CBDCs have been launched by a handful of countries so far while other countries and central banks are examining them.
According to Atlantic Council CBDC tracker, so far, only Nigeria, Jamaica, and Bahamas have launched their CBDCs while other countries including China, India, Saudi Arabia, France, Ghana, Canada, and Uruguay have launched their pilots.
