In a groundbreaking shift, Pakistan is preparing to integrate digital currency into its financial landscape. Planned amendments to the State Bank of Pakistan (SBP) Act will empower the central bank to issue a digital currency, manage both physical and digital assets, and exercise oversight in custody matters. This significant policy shift underscores Pakistan's acknowledgment of the transformative potential of digital finance and its ambition to establish a forward-looking, digital-first financial framework.
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Key Developments:

1. Central Bank Digital Currency (CBDC) Rollout
Pakistan is paving the way for the SBP to introduce a central bank digital currency (CBDC), which could soon be recognized as legal tender. This potential adoption of a digital currency aims to modernize the nation’s payment systems, bridging the gap between conventional finance and digital innovation.

2. Strengthening Regulatory Oversight
To facilitate a robust digital ecosystem, the SBP plans to launch a subsidiary dedicated to digital payments and systems management. This arm will focus on developing infrastructure to support a secure, resilient digital economy, positioning Pakistan as a leader in regulated digital finance.

3. Balanced Approach & Regulatory Safeguards
While Pakistan is opening the door to digital currency, caution remains a priority. Bitcoin and similar cryptocurrencies are still perceived as high-risk assets due to their volatility. To reinforce regulatory control, the proposed changes introduce stringent penalties for any unauthorized digital currency issuance, underscoring a commitment to secure, regulated digital finance.

With these reforms, Pakistan is gearing up for a promising digital finance era, blending innovation with regulatory strength to promote a secure and inclusive digital economy. Stay updated as Pakistan moves closer to realizing its digital finance vision!
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