Cryptocurrency Analysis and News Portal
The FATF requires virtual asset service providers to implement the same preventive measures as financial institutions, including customer due diligence, record keeping and reporting of suspicious transactions, and adhere to its travel rule – which requires crypto service providers to collect and share information on transactions above a certain threshold. Source
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Just days after announcing that cryptocurrencies will “never be legalized” in the country, Pakistan’s Ministry of IT & Telecom drafted a policy to spur the growth of artificial intelligence (AI). With the national AI policy, Pakistan aims to evolve into a knowledge-based economy by upskilling human capital on AI and allied
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On April 30, 2023, Pakistan's Dawn newspaper reported that banks have formally warned customers against using debit or credit cards for crypto trading. But Dawn also said that cryptocurrencies are gaining increasing popularity in the nation with the annual trading volume for Pakistan-based wallets going up to $25 billion, up
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Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives. On March 2, PBA signed the project contract for developing Pakistan’s first blockchain-based national eKYC (electronic Know Your Customer) banking platform,
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Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for
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Pakistan is intensifying efforts to launch its CBDC and has issued a timeframe within which it’ll achieve its aim.Pakistan might be the latest in a long list of countries looking to harness the potential of using central bank-issued digital currencies (CBDC). This follows after it announced new regulations in hopes
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Pakistan can generate tax revenues of at least $90 million each year if authorities impose a 15% tax on cryptocurrency transactions, an executive with a cryptocurrency exchange has said. 15% Crypto Tax An executive with a Pakistani cryptocurrency exchange has said Islamabad can generate at least $90 million in tax revenues
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The Pakistani government has formed three committees to decide whether to establish a legal framework for cryptocurrency or ban it. The committees will review all aspects of the cryptocurrency business and come up with recommendations on the country’s crypto policy. Committees Constituted to Decide on the Legal Status of Cryptocurrency in
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The Pakistan Telecommunication Authority has been requested to ban more than 1,600 crypto websites by the Federal Investigation Agency (FIA). The action followed a complete crypto ban recommendation by the central bank, the State Bank of Pakistan (SBP). Meanwhile, the country’s science minister said that the government intends to “regularize”
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Pakistan’s Federal Investigation Agency (FIA) is reportedly seeking to block websites dealing in cryptocurrency. The decision followed a meeting the agency had with the State Bank of Pakistan (SBP) which recently recommended a complete ban on crypto. Pakistan’s FIA Reportedly Seeks to Block Cryptocurrency Websites Pakistan’s Federal Investigation Agency (FIA) is seeking
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