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Pakistan Moves Toward Legalizing Cryptocurrency! In a major policy shift, Pakistan is taking steps to embrace digital currencies as part of its financial system. Proposed amendments to the State Bank of Pakistan (SBP) Act will give the central bank the authority to issue digital currency, regulate both physical and digital financial assets, and exercise custody over them. This move shows Pakistan’s recognition of the potential of digital currencies and its commitment to developing a modern, digital financial infrastructure. Key Highlights: CBDC Introduction: The SBP may soon conduct central bank digital currency (CBDC) transactions, potentially making this digital currency legal tender. Regulatory Framework: The SBP will establish a subsidiary to oversee digital payment systems, aiming to enhance financial infrastructure for a digital economy. Cautious Approach: While embracing digital currency, the SBP remains cautious. Bitcoin and similar cryptocurrencies are still viewed as volatile and risky. Strict Penalties for Violations: Under the new proposal, severe penalties will apply for unauthorized currency creation, indicating strong control over digital finance. These amendments are expected to bring new opportunities while ensuring Pakistan’s digital financial sector remains secure and regulated. Stay tuned as Pakistan heads toward a digital finance revolution! If you like this Support me on Binance TIP follow for more. #PakistanCrypto
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🇵🇰 Support the Crypto Movement in Pakistan! 🇵🇰 Pakistan Moves Toward Legalizing Cryptocurrency! If you want to see more articles and efforts to promote and legalize cryptocurrency in Pakistan, I need your support. With just a $5 Binance TIP or as you wish, you can help me dedicate more time and resources to writing informative content, spreading awareness, and advocating for a crypto-friendly future in Pakistan. Your support can drive real change! Let’s work together to make crypto a reality in our country. 💪 #CryptoInPakistan #BinanceTIP #DigitalFuture In a major policy shift, Pakistan is taking steps to embrace digital currencies as part of its financial system. Proposed amendments to the State Bank of Pakistan (SBP) Act will give the central bank the authority to issue digital currency, regulate both physical and digital financial assets, and exercise custody over them. This move shows Pakistan’s recognition of the potential of digital currencies and its commitment to developing a modern, digital financial infrastructure.
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