Pakistan is moving towards legalizing crypto trading to attract foreign investments and strengthen its role in the digital economy.
Popularity of Cryptocurrency in Pakistan
According to Chainalysis, Pakistan ranks ninth in the world for crypto adoption. Despite central bank warnings, between 15 and 20 million people in Pakistan use cryptocurrencies.
Aiming for Blockchain Leadership
Bilal Bin Saqib, head of the Pakistan Crypto Council, stated that legalizing cryptocurrencies is not just about foreign investments; it's also about making Pakistan a leader in blockchain technology.
Transition from Crackdowns to Regulations
The government aims to create a legal framework to make crypto transactions safer, boosting economic confidence in digital assets. This will support a young and growing economy where 60% of the population is under 30.
Pakistan seeks to legalize cryptocurrencies to secure its place in the global digital economy. The main question is when these rules will take effect and what they mean for the millions awaiting this change.
