Pakistan is moving closer to legalizing cryptocurrency, marking a significant shift in its financial policy. The government has proposed amendments to the State Bank of Pakistan (SBP) Act, which would officially recognize digital currencies and allow the SBP to regulate them. This decision follows directives from the Sindh High Court urging the government to establish a crypto regulatory framework within three months.

Under the proposed changes, the SBP would gain authority to issue and manage digital currency alongside physical currency, strengthening its role in overseeing both digital and traditional financial assets. Additionally, penalties for unauthorized digital currency issuance are set to be introduced, reinforcing regulatory control. The amendments also aim to allow dual nationals to hold senior roles within the SBP, broadening the talent pool for central bank governance.

If approved, Pakistan would join a growing list of countries embracing digital currencies within a regulated system, potentially opening up new opportunities in the nation’s financial landscape and signaling a more progressive approach to digital finance. #CryptoNewss #pakistan #cryptopakistan $BTC $ETH #PKR