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Pakistan Court Orders Government To Develop Crypto Regulations
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cryptonews.comThe Sindh High Court, the top court of Pakistan’s Sindh province, has instructed the country’s government to develop regulations for cryptoassets within a three-month period, and established a committee to look into the legality of such regulations under Pakistani law.
The ruling was issued by a two-judge bench presided by Justice Muhammad Karim Khan Agha, reported local daily The Express Tribune. The court deliberated on a petition filed to challenge the 2018 statement by the State Bank of Pakistan (SBP), the country’s central bank, in which it announced cryptoassets were not a legal tender in Pakistan, a country with over 220 million people.
“Virtual Currencies/Coins/Tokens … are neither recognized as a Legal Tender nor has SBP authorized
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