Media Wire Express Correspondent
Pakistan has taken a bold step toward embracing the future of digital finance by moving to legalize cryptocurrency.
The decision marks a significant shift in the country’s financial policies, aiming to regulate digital assets, introduce a framework for their use, and potentially launch a state-backed digital currency.
For years, Pakistan has been cautious about cryptocurrency. In 2018, the State Bank of Pakistan (SBP) banned banks and financial institutions from facilitating digital asset transactions, citing risks such as volatility, fraud, and money laundering. However, with the global rise of digital finance and increasing public interest in cryptocurrency, the government has decided to take a different approach—one that balances regulation with innovation.
The proposed changes to financial laws would allow digital currencies to be recognized as legal assets, paving the way for regulated cryptocurrency exchanges and transactions. Under the new framework, companies dealing in cryptocurrency will need to register with regulatory authorities and comply with strict anti-money laundering (AML) and Know Your Customer (KYC) policies. The aim is to bring transparency and security to the digital financial market while preventing illicit activities.
Government officials have expressed optimism about the move, stating that it could boost financial inclusion by allowing people without access to traditional banking services to participate in the digital economy. Experts also believe it could attract foreign investment and stimulate Pakistan’s growing fintech industry. By creating clear regulations, the country hopes to encourage responsible cryptocurrency use while protecting investors and consumers.
The response from the public and the business sector has been largely positive. Many see this as an opportunity to integrate Pakistan into the global digital economy, following in the footsteps of other countries that have embraced cryptocurrency.
Also Read; Putin Agrees to Pause Strikes After
Trump Call
However, some concerns remain regarding the potential challenges of regulation, enforcement, and ensuring consumer protection in a rapidly evolving digital landscape.
Pakistan’s decision to move forward with cryptocurrency legalization reflects a growing trend among nations looking to harness the benefits of digital assets while implementing safeguards against their risks. As the country prepares to implement this new policy, the success of its cryptocurrency regulations will depend on how well the framework is enforced and whether it can strike the right balance between innovation and financial security.
With this shift, Pakistan is entering a new era of digital finance—one that could reshape the way people transact, invest, and engage with the global economy.
