Pakistan is set to legalize bitcoin and other cryptocurrencies, implementing a regulatory framework to stimulate foreign investment and adoption. CEO of the Pakistan Crypto Council, Bilal Bin Saqib, emphasized the importance of this shift, pointing towards the country's youthful population and low-cost market. The Finance Minister's recent formation of the PCC aims to align crypto regulations with global best practices, marking a significant departure from previous bans on crypto. This strategic move is intended to position Pakistan as a leader in blockchain finance.
Pakistan is done sitting on the sidelines regarding bitcoin and crypto. We want to attract international investment because Pakistan is a low-cost, high-growth market.
This is a stark change for Pakistan, which had previously banned crypto. By embracing bitcoin and crypto early, Pakistan aims to attract investors.
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