In the dusty corners of Pakistan, where the sun beats down like a relentless taskmaster, a new idea is stirring. The nation, with its heart beating to the rhythm of ambition, is peering into the shimmering world of cryptocurrency, hoping to lure in foreign investors like moths to a flame. 🌍✨
It seems that the folks in charge have finally decided that sitting on the sidelines is for the faint-hearted. Bilal bin Saqib, the head honcho at the Pakistan Crypto Council, declared with a flourish that they are ready to roll up their sleeves and dive into the digital deep end. “We’re not just a low-cost high-growth market,” he proclaimed, “we’re a web3 native workforce ready to build!” Sounds like a tech-savvy utopia, doesn’t it? 😏
“Pakistan is done sitting on the sidelines. We want to attract international investment because Pakistan is a low-cost high-growth market with 60% of the population under 30. We have a web3 native workforce ready to build.”
— Bilal bin Saqib
Now, let’s not kid ourselves; crypto trading is already strutting its stuff in Pakistan, ranking ninth in the global adoption race. With a staggering 15 to 20 million users, according to Saqib, it’s clear that the people are hungry for digital currency. But much of this trading is happening in the shadows, through informal peer-to-peer markets, like a secret club where the password is “Bitcoin.” 🤫
The government, bless its heart, has been as clear as mud on the crypto front. But now, it seems the winds of change are blowing, possibly influenced by the grand circus of global politics. Saqib hinted that the antics of Trump, who’s making crypto a national priority, might just be nudging Pakistan to join the fray. Because, you know, if the big guy is doing it, who are we to sit back and sip chai? ☕️
In a bold move, the State Bank of Pakistan proposed a legal framework in November 2024 to recognize digital assets as official currency. This proposal is like a lifebuoy thrown to a drowning man, outlining penalties for unauthorized digital currency issuers. By bringing digital currency management under its wing, the bank aims to keep a watchful eye on both physical and digital forms of currency. Because, let’s face it, someone has to keep the ship steady in these choppy waters! 🚢
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2025-03-20 10:07