The Ministry of Finance of Pakistan has recently publicized a dedicated body which will be responsible for regulating blockchain-based financial infrastructure in Pakistan. On May 21, a state-owned broadcaster, PTV reported that the regulatory body is said to be the Pakistan Digital Assets Authority (PDAA) and it will oversee license
Pakistan is focusing on the growth and development of the country’s crypto presence. It plans to use surplus energy for Bitcoin mining and AI data centers. The announcement came out after Binance’s CZ joined the Pakistan Crypto Council as a strategic adviser. The Head of Pakistan Crypto Council and adviser
Cryptocurrency adoption and regulation took a new turn with Trump’s presidency in the US. Trump signed an executive order to establish a crypto strategic reserve and even dropped lawsuits against major crypto firms. Being the leading global country, the pro-crypto stance of the US is inspiring other countries to adopt
A cryptocurrency trader in Karachi, Pakistan, faced a terrifying ordeal on December 25, 2024. Mohammed Arsalan, aged 30, was abducted by a group of armed men and forced to transfer $340,000 from his Binance account. The suspects included seven individuals, one of whom was an officer from the Counter-Terrorism Department
In order to be eligible for $3 billion in bailout money, the International Monetary Fund (IMF) has mandated that the Federal Board of Revenue (FBR) of Pakistan impose a Capital Gains Tax (CGT) on investments in cryptocurrencies. The IMF suggested that Pakistan’s FBR tax cryptocurrency capital gains during the review
On Wednesday, May 17, the Senate Standing Committee on Finance in Pakistan ordered new cryptocurrency regulation laws to be drafted. Inflation hit an all-time high of almost 36% in the month of April 2023, adding to the country’s other economic woes. Minister of State for Finance Ayesha Ghos Pasha said
The Pakistan Banks’ Association (PBA) and Avanza Group have inked a contract for the creation of a blockchain-based KYC platform. The latter group brings together firms that provide cutting-edge banking software, CEM tools, blockchain, and AI. PBA Chairman Muhammad Aurangzeb and Avanza Innovations CEO Waqas Mirza were among those present
Modi said it is impossible for just one government to make judgments. Indian PM spoke at Switzerland’s World Economic Forum Davos conference. Narendra Modi, Indian Prime Minister, urged global action on cryptocurrencies, drawing comparisons to inflation and climate change. The Indian Prime Minister spoke at the World Economic Forum Davos
FIA of Pakistan confirms $100 million crypto scam. Binance announces complete cooperation with Pakistan FIA. Pakistan FIA determined to find out the 26 anonymous Binance wallets. For the past few days the news was on fire in Pakistan, amidst the recent crypto scam which came to limelight. The overall crypto
