Pakistan proposes a Complete Ban on Use of Cryptocurrencies
During yesterday’s meeting, Minister of State for Finance Ayesha Ghos Pasha said that the legislation will be implemented banning any kind of use of cryptocurrencies. During the meeting, the Senate Banking Committee received orders from the Ministry of Information Technology and the State Bank, who have already started working on banning cryptocurrencies in Pakistan. advertisement Dr. Ayesha Ghos Pasha noted that Pakistan would never legalize cryptocurrencies. In their defense, Sohail Jabbar, the executive director of Digital State Bank stressed that the crypto market has already shrunk from $2.8 trillion to now at $1.2 trillion. Addressing the Committee he further stated that cryptocurrency is a “total fraud” and would be never allowed in Pakistan. The country seems to be following in the footsteps of China in putting an absolute ban on the use of crypto. Pakistan: Crypto Is A High-Risk Asset Pakistan’s financial policymakers ...