K-P Assembly Passes Resolution Legalizing Cryptocurrency

Khyber Pakhtunkhwa Assembly unanimously passed the resolution to legalize cryptocurrency and crypto mining, member of the Provincial Assembly (MPA) of Khyber-Pakhtunkhwa (KP) Dr. Sumera Shams announced on Twitter. Dr. Shams wrote: Indeed Pakistan progressing towards digitalization to compete for the world.

Advisor to Chief Minister Khyber Pakhtunkhwa on Science & Technology and knowledge Technology also tweeted about the development. Zia Bangash also shared the draft of the resolution which is urging “the assembly to ratify the resolution so Pakistan stays with the advancement in digital technology within the world”.

Further, the draft read: “The centralized should also formulate a collection of laws to control cryptocurrency and crypto mining in Pakistan, especially in KP”. Last year, the national decided to introduce the Electronic Money Institutions (EMIs) regulations today [Monday] for regulating digital currencies as a part of its action plan per the Financial Action Task Force [FATF]. Regulations were prepared so as to watch and regulate digital currency in Pakistan

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