The governor of the State Bank of Pakistan believes that a state-back digital rupee can bring two-fold benefits to the country.
Khyber Pakhtunkhwa recently set up a committee to look into digital currencies and in one of its first actions, it has moved to set up two block reward mining farms.
Known as Raast, the system is especially aimed at availing digital payments to women who have been financially marginalized for decades.
The Sindh High Court in Pakistan has heard a petition filed in opposition to a nationwide ban on cryptocurrencies, giving fresh insight into the legal position for digital assets in the country.
There is currently a pending resolution in Pakistan that paves the way for digital currency legalization and the creation of digital currency law.
The Securities and Exchange Commission is looking comparatively at the approach of regulators in other countries, as well as setting out the needs of Pakistan’s growing digital finance market.
The State Bank has not outlawed digital currency in Pakistan despite claims to the contrary, according to a lawyer for the country’s central bank.
From Thailand’s e-visa to India’s Tata consultants, America’s AMD to China’s TikTok, blockchain is ending the year on a high as more global giants adopt.
The Pakistan President believes that emerging tech like blockchain and AI will shape the future and urged the country to invest or risk falling behind.
A meeting chaired by Pakistan Prime Minister Imran Khan discussed ways in which technologies such as blockchain could be used to ensure efficiency of government processes.
The South Asian country intends to issue a state-backed digital currency by the year 2025 to bring more inclusion and reduce inefficiencies in their monetary system.