# Pakistan News

Pakistan is set to introduce regulations for digital currencies as part of its action plan pertaining to the Financial Action Task Force (FATF), reports local media outlet The Express Tribune, April 1, 2019. Government to Issue Licenses to Crypto Exchanges In a bid to mitigate the use of cryptocurrencies to...

Asad Umar, the Pakistani Finance Minister, has debunked claims that the country is moving forward with plans to legalize bitcoin trading, reports TechJuice. Despite not recognizing cryptocurrency trading, the country has in recent times begun to adopt blockchain technology solutions. Bitcoin Legalization Not in the Works According to TechJuice, Finance...

According to a press release published on January 8, 2019, Pakistan’s telecommunications company Telenor, in association with Valyou, has successfully launched a blockchain-enabled cross-border remittance service. Notably, the service is powered by distributed ledger technology (DLT) developed by Alipay. Rapid and Secure International Remittance Service for Pakistanis in Malaysia On...

The Reserve Bank of India (RBI) recently banned banks from working with individuals or businesses dealing with digital currencies. On April 6, 2018, the State Bank of Pakistan (SBP) followed in same footsteps. The SBP mentioned in a separate statement that cryptocurrencies were no longer legal in Pakistan. According to...

Pakistan launched its first FinTech Center in February, which will focus on the development of payment-related financial technologies and growth of early stage startups looking into emerging markets such as bitcoin, the blockchain and peer-to-peer (P2P) payments. At the two-day Startup Lahore conference, Information Technology University (ITU) vice chancellor Umar...