Pakistan's Central Bank Sees Few Good Use Cases for Crypto
2022/03/09 08:00According to News.bitcoin, the governor of the State Bank of Pakistan (SBP), Reza Baqir, talked about cryptocurrency during a panel discussion at the 13th Karachi Literature Festival Sunday. Asserting that crypto lacks good use cases, the Pakistani central bank governor remarked: “when we look at the value proposition offered by crypto right now, the use cases that have been brought forward have just been exchanges.” The SBP governor proceeded to talk about the risks associated with cryptocurrencies. Noting that “There is no way that the regulator or a law enforcement agency has visibility on who is doing transactions and for what purpose,” he opined: “therefore, around the world there is a lot of misuses of cryptocurrency.” Meanwhile, he believes that distributed ledger or blockchain technology is “absolutely useful” and has the potential to solve many problems the world is facing right now.
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