Pakistan Hardens Stance Against Crypto, Imposes Far-Reaching Ban

05/21 23:45

The Pakistani government has imposed a ban on cryptocurrencies, with the Minister of State for Finance and Revenue stating that they will never be legalised in Pakistan. The decision is reportedly influenced by conditions set by the Financial Action Task Force to avoid being placed on its "Grey List." Several banks have already informed customers that crypto trading is illegal, citing regulatory instructions from the State Bank of Pakistan. Despite this, cryptocurrencies have gained popularity in Pakistan as citizens turn to stablecoins to safeguard against economic uncertainty caused by political and financial instability.

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