Pakistan launches new laws to expedite CBDC launch by 2025
Regulators worldwide see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of technologies that power cryptocurrencies. Pakistan joined this list by announcing new regulations to ensure the launch of an in-house CBDC by 2025. The State Bank of Pakistan (SBP) signed in new laws for Electronic […]
Crypto Stories: Pakistani crypto billionaire wants his country to be less reliant on credit
When YouTube was banned in Pakistan, Reality TV star Waqar Zaka “had no other option” than to turn to Bitlanders — an artificial intelligence (AI) educational social platform — to monetize his content in Bitcoin (BTC). Cointelegraph interviewed Zaka for the latest episode of Crypto Stories to find out how this celebrity came up against the […]
Law Decoded: First-mover advantage in a CBDC conversation, Jan. 10–17
Last week saw an unlikely first move in the opening narrative battle around a prospective U.S. central bank digital currency: Congressperson Tom Emmer came forward with an initiative to legally restrict the Federal Reserve’s capacity to issue a retail CBDC and take on the role of a retail bank. This could be massively consequential as […]
Pakistan's president calls for more training in blockchain technology
Arif Alvi, currently serving as the president of Pakistan, called for additional training in emerging technologies including blockchain, artificial intelligence, and cybersecurity while meeting with a delegation of blockchain technology experts. In a Monday announcement, Alvi said Pakistan’s talent pool should be ready to meet the needs of the Fourth Industrial Revolution, which included utilizing […]
Pakistan's central bank reportedly wants to ban crypto
The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan. Pakistan’s Sindh High Court reportedly held a hearing related to the legal status of cryptocurrencies in the country, in which several Pakistani authorities including the SBP submitted a document to the court, arguing that cryptocurrencies like Bitcoin (BTC) are […]
Pakistan to investigate Binance for multi-million dollar crypto scam
Pakistan’s Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to identify links around a multi-million crypto scam in the region. The government of Pakistan started a criminal investigation after receiving numerous complaints against an ongoing scam that involved misleading investors into sending funds from Binance wallets to […]
Pakistanis have $20B in crypto assets, says head of local association
Nasir Hayat Magoon, The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has stated that Pakistani citizens have a combined crypto assets value of $20 billion. During a news conference, the FPCCI president said that Pakistanis’ digital currency valuations are based on the chamber’s research paper, as per a local report. He […]