Pakistan plans to become a blockchain finance leader by regulating cryptocurrencies
On March 20th, Bilal Bin Saqib, CEO of the Pakistan Cryptocurrency Committee, stated that Pakistan plans to regulate cryptocurrency to become a leader in blockchain finance and attract international investment. Pakistan is planning to establish a legal framework for cryptocurrency to attract international investors to this Central Asian country. "Pakistan is no longer standing idly by; we want regulatory clarity; we need a legal framework that supports business." Earlier this month, Saqib was appointed as the chief advisor on cryptocurrency management for the Pakistan Ministry of Finance. Blockchain analysis company Chainalysis ranked Pakistan as the ninth in cryptocurrency adoption rate last year, and Saqib claims that Pakistan has up to 20 million cryptocurrency users.
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