Here is an overview of crypto in Pakistan ¹ ² ³ ⁴:

- *Legality:* While Pakistan has not banned cryptocurrency, it has also not been legalized, according to Minister of State for Finance and Revenue Aisha Ghaus Pasha.

- *Number of Users:* Pakistan has a high number of cryptocurrency users, with approximately 14.7 million users, which is more than Russia, Indonesia and the United Kingdom.

- *Regulation:* The regulatory environment related to cryptocurrencies in Pakistan is still uncertain, which is stifling innovation and opportunities.

- *Taxation:* There is currently no taxation on cryptocurrency in Pakistan. However, India has introduced a 30% tax on Virtual Digital Assets (VDA), which could be a starting point for Pakistan to regulate its crypto ecosystem.

- *Security:* The State Bank of Pakistan has warned about the hacking and security compromises of cryptocurrency exchanges and wallet businesses.

- *Investment:* The Securities and Exchange Commission of Pakistan has advised the public to exercise extreme caution when investing in cryptocurrencies, as it is risky and could be a fraudulent pyramid scheme.