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Pakistan authorities face increasing pressure to regulate cryptocurrencies as adoption skyrockets
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It is no secret that a large chunk of global cryptocurrency adoption is being driven by P2P transactions on exchange platforms in developing nations, even as the governments in these emerging markets continue to remain openly skeptical of the novel asset class.
Pakistan is no stranger to this scenario, as the country’s government is yet to come out with a set of rules or guidelines pertaining to cryptocurrency investment and usage. Back in 2018, the country’s State Bank had issued a warning against the use of cryptocurrencies, while also banning banks from indulging in digital assets in any form.
In fact, it was only in 2020 that one of the country’s courts passed an order prohibiting authorities from arresting Bitcoin holders unless they
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