Taarar2000
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Pakistan Is About to Legalize Cryptocurrency!
Pakistan is on the brink of a major shift in its digital finance landscape. According to ARY News, the Ministry of Finance has unveiled plans to form the Pakistan Virtual Assets Regulatory Authority (PVARA), a regulatory body designed to govern virtual assets.
In a related development, the State Bank of Pakistan (SBP) clarified that its earlier 2018 advisory did not declare cryptocurrencies illegalāit simply urged caution due to the absence of a regulatory structure. Now, SBP and the Finance Division are actively collaborating with the Pakistan Crypto Council to craft a formal legal framework .
These developments signal a dramatic turnaroundāfrom prior resistance to bold regulatory embraceāmarking a new era for blockchain innovation, consumer protection, and investor confidence in Pakistan.
In a related development, the State Bank of Pakistan (SBP) clarified that its earlier 2018 advisory did not declare cryptocurrencies illegalāit simply urged caution due to the absence of a regulatory structure. Now, SBP and the Finance Division are actively collaborating with the Pakistan Crypto Council to craft a formal legal framework .
These developments signal a dramatic turnaroundāfrom prior resistance to bold regulatory embraceāmarking a new era for blockchain innovation, consumer protection, and investor confidence in Pakistan.
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