Pakistan Eyes Cryptocurrency Legalization to Attract Global Investors

Joining the ranks of several countries across the globe, Pakistan intends to legalize cryptocurrency trading. The country is all set to roll out a regulatory framework that aids in providing clarity around activities related to cryptocurrencies. The chief executive officer of the Pakistan Crypto Council, Bilal bin Saqib confirmed the same during a recent interview.

JUST IN:Pakistan to legalize cryptocurrency.

Pakistan To Dive Into The World of Cryptocurrency

At the moment, the majority of the globe is adopting cryptocurrencies. Some countries are prepared to add these assets to their reserve, while others have been investigating the concept. Considering that the sector was previously widely vilified and connected to the dark web, this is a significant leap. Pakistan’s recent interest demonstrates how quickly the ecosystem is growing. Speaking about the same, Pakistan Crypto Council’s Saqib said,

It should be noted that Pakistan is among the most populated countries. According to a recent UN study, the country is expected to have 511 million people by the year 2100, making it the third-largest country in terms of population. Looking into the country’s cryptocurrency connection, Pakistan houses about 15 million to 20 million cryptocurrency users. These statistics were presented by Saqib.

Following The Footsteps of The US

Donald Trump brought a fresh wind to the cryptocurrency industry. His intention of starting a Crypto Strategic Reserve caught global attention. While Trump is all set to revolutionize the industry, other countries are bound to follow the US. Elaborating on the same, Saqib added,

In addition, Saqib has been playing an important role in bringing up Pakistan’s cryptocurrency scene. The legalizing plan follows Saqib’s appointment earlier this month. He was appointed as the finance minister’s chief advisor for digital asset management. To improve government efficiency, streamline decision-making, and spur innovation in public sector operations, he will also be offering advice on the investigation of artificial intelligence.