The central bank of Pakistan has announced the launch of a digital currency pilot as part of new regulatory initiatives aimed at developing the country's financial infrastructure.
Announcement of the Digital Currency Pilot
Governor of the State Bank of Pakistan, Jameel Ahmad, announced the upcoming launch of a digital currency pilot, which is part of broader efforts to strengthen the country's financial system. This move aligns with the approval of the '2025 Virtual Assets Act' regulating cryptocurrency.
New Regulations in the Crypto Industry
The new regulatory framework aims to reshape Pakistan's landscape by providing structured oversight for virtual assets. Alliances with technology partners will be formed to ensure efficient regulation. The initial implementation outcomes are expected to enhance financial infrastructure and simplify licensing procedures for crypto entities.
Expert Opinions on Regulation and Market
Insights from the Coincu research team suggest that the new regulatory framework could improve Pakistan's digital financial landscape. Market participants express cautious optimism, highlighting the importance of technological alignment for effective regulation. Local and regional financial experts support these measures as a step towards industry modernization.
The launch of the digital currency pilot in Pakistan and new regulations could significantly impact the development of the country's financial system and the crypto industry as a whole.
