BlockchainPakistan not to ban bitcoin (BTC) and other cryptocurrencies

Pakistan not to ban bitcoin (BTC) and other cryptocurrencies

Minister of State for Parliamentary Affairs Ali Muhammad Khan met yesterday in Pakistan with representatives of the National Assembly. The official said that if the country decides to follow the path of the introduction of cryptocurrency and the development of this industry, the government will not stand in the way.

Discussion of cryptocurrency issues

According to Daily Times , a meeting was held on Wednesday in which Ali Muhammad Khan told the National Assembly that bitcoin (BTC), like other crypto assets, is a new concept. He added that the government has no intention of hindering the development of the crypto industry .

Asked about the regulatory framework that has yet to be put in place in the country, Khan said authorities are not opposed to it, but the State Bank of Pakistan (SBP) has certain conditions. According to the Minister, this issue has been referred to the Finance Committee, where it will be examined. Ali Muhammad Khan added that the authorities were not opposed to young people being able to invest money using new technologies.

Other topics of the interview

After discussing cryptocurrency, the minister responded to other questions raised by representatives of the National Assembly. Discussions focused on rising wheat prices and provincial fundraising commitments for tribal people. Ali Muhammad proposed to refer these matters to the Finance Committee.

At the end of the speech, Khan added that work on two tunnels, an underground power plant and other infrastructure items, was underway in the country. Construction of the electromechanical plant, work on which began in November 2019, is also continuing.

It is nice to observe that countries like Pakistan are not only developing, but also considering introducing cryptocurrency. Even if the country doesn’t embrace bitcoin as an official payment method, it certainly won’t be against people investing in it.

Latest news

Driving Action for Global Climate Change: Over 1000 global industry leaders to convene in Dubai at upcoming Future Sustainability Forum hosted by DIFC

2-day inaugural Future Sustainability Forum set to attract 1000+ industry leaders, 50+ speakers, representing 30+ countries, 4-5 October 2023. The...

PintSwap: Telegram Bots Unveiled, The Days of Taxes and Slippage Are Over! 

Road Town, BRITISH VIRGIN ISLANDS, Oct 2, 2023, ZEX PR WIRE,In the ever-evolving and relentless world of crypto, where...

Forex Expo Dubai 2023 Announces Top Sponsors and Outstanding Speaker Lineup

Dubai, UAE,  25 Sep 2023, FOREX PR WIRE, The newest edition of Forex Expo Dubai 2023 is back, set...

Crypto Expo Dubai 2023 Wraps Up with Resounding Success – A Glimpse into the Future of Cryptocurrency and Blockchain Innovation

Dubai, UAE, Sep 23, 2023, ZEX PR WIRE, Crypto Expo Dubai 2023, the most anticipated cryptocurrency and blockchain event...

Fintech Surge 2023 announces Forus as Gold Sponsor

Pioneering fintech company aims to elevate innovation in Dubai’s financial landscape Dubai, UAE, 23 Sep 2023, ZEX PR WIRE, Fintech...

Dubai to Witness the World’s Largest Web3 Conference: ABC Conclave to Unite Global Web3 Pioneers in Dubai World Trade Centre

Dubai, UAE, 17th September 2023, ZEX PR WIRE, ABC Conclave, is set to gather blockchain enthusiasts, industry leaders, and...

Must read

USD 19,500, the new key price of bitcoin to start an upward movement

Key facts: In the past, $19,500 has been a resistance...

Blockchain IDOs and Presales You Should Know About

There’s never a lack of new projects opportunities when...

The 10 rules to prepare for the crypto bear market by the savvy investor

While the Bitcoin and cryptocurrency market reached a record capitalization in...

Latin America’s E-commerce Giant Opens Up To Buying Bitcoin

Bitcoin (BTC) and cryptocurrencies are increasingly accepted every day for...

Binance Welcomes Arbitrum – Ethereum’s Second Layer!

For many months, the Ethereum (ETH) network has faced...

You might also like
Recommended to you