Pakistan sets up committees to look into banning or legalizing Crypto

Pakistan’s federal government has formed three sub-committees to decide the future of cryptocurrency and related businesses in the country.

The committees will review all aspects of the cryptocurrency business and come up with recommendations on the country’s crypto policy and their proposals will be sent to a committee headed by the finance secretary.

The committees were formed during a meeting chaired by Finance Secretary Hamed Yaqoob Sheikh to decide whether to legalize or ban cryptocurrency business.

Their recommendations will be based on imposing an immediate ban on cryptocurrency and its repercussions in the future.

The committees will also discuss whether Pakistan would lag behind other countries in the technological advancement race if cryptocurrency is banned in the country.