Pakistan has recently announced the establishment of the National Crypto Council, indicating a shift in the country's stance on cryptocurrencies and an intention to integrate them into the global financial system.
Reasons for Establishing the National Crypto Council
The decision to form a National Crypto Council reflects Pakistan's evolving approach to digital currencies, driven by global trends, economic potential, and engagement with international experts. The shift in key government figures' stances has also been significant.
Role and Functions of the National Crypto Council
The council will comprise government, regulatory, and industry representatives, aiming to develop policies, a regulatory framework, and engage globally and locally with the industry.
Benefits of a Regulated Digital Asset Framework in Pakistan
A regulated crypto sector could stimulate economic growth, enhance financial inclusion, streamline remittances, and improve market transparency and security in Pakistan.
The establishment of the National Crypto Council marks a significant step for Pakistan towards integrating with the digital economy, potentially serving as an example for other nations.
