Bloomberg: Pakistan intends to legalize encrypted currencies to attract investment economy

Pakistan intends to set a legal framework for cryptocurrency trading in an attempt to attract international investments.

The Bloomberg TV channel quoted the CEO of the Pakistani encrypted currency council, Bilal bin Thaqab, as saying that his country aims to develop a clear regulatory framework for managing digital assets to enhance the local total system.

The trading of cryptocurrencies is very popular in the country in South Asia, the fifth largest country in the world, despite the central bank warnings of the risks posed by this industry.

Pakistan is ranked ninth in the world in terms of the adoption of cryptocurrencies, according to Cenalisis, and Thaqab said in the interview that there is between 15 and 20 million users of encrypted currencies in Pakistan.

Pakistan is fed up with silence

“Pakistan is fed up with concealment … We want to attract international investments because Pakistan is a low -cost and high -growth market, as 60% of its population is under the age of 30.”

The licensing plan comes after the appointment of a major consultant to the Minister of Finance for the Department of Digital Assets earlier this month, and will also provide advice on exploring the use of artificial intelligence to enhance government efficiency, improve decision -making processes, and push innovation in public sector operations.

Located in some of the main digital assets markets in Asia exports increasing interest in this industry, driven by the agenda of US President Donald Trump, supporting the encrypted currencies in the United States.

“Trump makes encrypted currencies a national priority, and all countries, including Pakistan, should follow his followers,” Thalaq said.