Pakistan is developing a legal framework for cryptocurrencies in a bid to attract international investments and strengthen its position as a leader in blockchain finance.
Creating a Legal Framework
Pakistan Crypto Council CEO Bilal Bin Saqib announced the country's intention to establish a business-friendly legal framework. This is amidst the aim to become a leader in blockchain-powered finance and attract international investments.
Crypto as a National Priority
Saqib argues that cryptocurrency should become a national priority, following the example of other countries. He was appointed CEO of the Pakistan Crypto Council on March 14, and believes the country is open for business.
Benefits for Developing Countries
Saqib believes that developing nations like Pakistan and Nigeria can reap significant benefits from adopting blockchain and crypto technologies. He highlights the potential for reducing reliance on traditional banking systems and decreasing remittance costs.
Pakistan is actively working towards establishing a legal framework for cryptocurrencies, aiming to become an attractive destination for international investors and a leader in blockchain technology.
