#Pakistan News

India: New Bill Seeks to Introduce CBDC, Ban ‘Private’ Cryptocurrencies

January 30, 2021 by Aisshwarya Tiwari at Regulation

India continues to see-saw its stance toward cryptocurrencies. India Mulling Banning ‘Private’ Cryptocurrencies, Launching CBDC According to the Lok Sabha Bulletin published on January 29, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, aims to stop the trading of digital currencies in India. Simultaneously, the bill also seeks...

Digipharm announce joint cooperation with Government of Pakistan’s Social Healthcare Fund

Digipharm (DPH) Partners with Pakistan to Launch Blockchain-Based Healthcare Solution

January 28, 2021 by Ogwu Osaemezu Emmanuel at Blockchain

Digipharm (DPH), has inked a partnership deal with Pakistan’s Social Healthcare Fund. The alliance aims to digitize the processes of the nation’s healthcare funds controlled by the National Safety Division, Bait-Ul-Mal, according to a press release on January 27, 2021. Healthcare on The Blockchain Per a 2019 report by Healthcare...

Pakistan is Now Using Government Funds to Mine Bitcoin

Pakistani Government Now Mining Bitcoin Directly

January 14, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

Authorities in the Khyber Pakhtunkhwa (KP) province of Pakistan has launched two state-owned bitcoin (BTC) mining farms. Pakistan, which used to have a harsh stance towards bitcoin and other cryptos just like India, is now embracing the revolutionary digital asset class with full arms. Pakistan Begins Full-Scale Bitcoin Mining While...

Pakistan May Front-run India in Legalizing Cryptos

December 3, 2020 by Osato Avan-Nomayo at Regulation

Pakistan is set to become the latest country to legalize crypto as the nation moves forward with its digitization agenda. The news marks a landmark decision for a country that like its neighbor India has a history of anti-cryptocurrency regulations. Pakistan Moving Towards Crypto Ban Reversal? Tweeting on Wednesday (Dec....

Pakistan: SECP Publishes Crypto Regulations Exploratory Report

November 16, 2020 by Aisshwarya Tiwari at Regulation

An official source shows the Pakistani financial regulator is working toward regulating cryptocurrencies. Pakistan Developing Crypto Regulatory Framework According to a report by Finance Magnets, Pakistan’s financial regulator – the Securities and Exchange Commission of Pakistan (SECP) – is working to develop a regulatory framework for digital assets. Recently, the...

Pakistan: Ripple (XRP) Partners with Major Islamic Commercial Bank

September 9, 2019 by Aisshwarya Tiwari at Altcoins

According to a Crowdfund Insider report published on September 8, 2019, major Pakistani bank, Faysal Bank Limited (FBL) has partnered with fintech firm, Ripple Inc. to launch a blockchain-powered digital payments solution. Enabling a Blockchain Economy One of Pakistan’s largest commercial banks, FBL has more than 220 retail branches across...

Pakistani Government Set to Introduce Regulations for Cryptocurrencies

April 1, 2019 by Aisshwarya Tiwari at Altcoins, Bitcoin, News, Regulation

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...

Finance Minister Debunks Bitcoin Legalization Claims in Pakistan

March 21, 2019 by Osato Avan-Nomayo at Adoption, Bitcoin, News, Regulation

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...

Pakistan Embraces Blockchain Technology; International Remittance Service Launched

January 10, 2019 by Aisshwarya Tiwari at Blockchain, Business, Finance, News

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...

India and Pakistan Crackdown on Cryptocurrencies

April 10, 2018 by Cindy Huynh at Altcoins, Bitcoin, Finance, News, Regulation

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...