📢BREAKING 📢

💰Pakistan 🇵🇰 Proposes Amendments to Legalize Cryptocurrency. ✅

Pakistan is taking steps towards legalizing cryptocurrency through proposed amendments aimed at developing a regulated crypto framework. Currently, the State Bank of Pakistan (SBP) restricts banks and financial institutions from facilitating crypto-related transactions, which has placed the industry in a legal gray area since 2018.

However, the Sindh High Court recently directed the government to draft a regulatory framework, highlighting growing recognition of cryptocurrency’s potential in the region.

This push for regulation is partly driven by Pakistan's need to align with international standards on anti-money laundering and counter-terrorism financing, as the Financial Action Task Force (FATF) has previously flagged the country on these fronts. While crypto exchanges have faced operational challenges due to limited access to banking services, government bodies like the Securities and Exchange Commission of Pakistan (SECP) have begun consulting with stakeholders to shape upcoming regulations​

PROPAKISTANI

​

COINTELEGRAPH

​

LAWYERS OF PAKISTAN

.

If successful, Pakistan's regulatory move could open new avenues for cryptocurrency adoption and innovation within the country, providing legal clarity for both individuals. $BTC $BNB

#Pakistani_Bitcoin #news #USElections2024Countdown #TetherAEDLaunch #write2earn🌐💹