Bilal Bin Saqib, CEO of Pakistan’s Cryptographic Council, proposed the country’s leaked energy to use Bitcoin (BTC) mining as a fuel at the inauguration of the Cryptographic Committee on March 21.
According to the state’s articles, the council is seeking a comprehensive regulatory framework for cryptocurrency to attract foreign direct investment and to establish Pakistan as a coding hub.
The meeting included a member of the National Assembly, the president of the Pakistan, the chairman of the Pakistan Securities and Exchange Commission (SEP), and the Minister of Information Technology. Senator Muhammad Aurangzeb said about this meeting:
“This is the beginning of a new digital chapter for our economy. We are trying to attract investment, empower the youth, and to build a transparent and future financial ecosystem that puts Pakistan on the world as a leader of emerging technology.”
The Cryptocurrency is a fundamental start of encryption before the Pakistanian government. In May 2023, Aisha Ghaus Pasha, former Minister of Finance and Imports, said that encryption would never be legal in this country.
PASHA cited the restrictions on monetary money laundering under the FITF (Financial Action Task Force) as a major motivation for the government’s anti -cryptocurrency position.
The presence of Bitcoin miners can stabilize the electrical grid. source: Science
relevant: Pakistan’s eyes encrypt legal frameworks to promote foreign investment.
Pakistan follows the United States to accommodate encryption.
The Pakistanian government moved to regulate cryptocurrency by legal bidding on the same day as the US election on November 4, 2024.
After Donald Trump was re -elected at the US inauguration on January 20, Trump moved quickly to establish a professional crypto policy at the federal level.
On January 23, President Trump signed an administrative order to establish a working group for digital assets, a mission advisory committee to explore comprehensive regulatory reforms of digital assets.
President Trump signed an administrative order to establish a presidential group of digital assets. source: White House
The January 23rd order also banned the government to research, develop, or publish a central bank digital currency (CBDC).
President Trump will also sign a cryptocurrency created by US companies by signing an administrative order in March 2025, which has produced Bitcoin Strategic Preliminary and separate digital asset stocks.
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