An interministerial committee constituted by the Sindh High Court has recommended a complete ban on cryptocurrency and related activities in Pakistan. crypto cryptocurrency bitcoin $BTC
The State Bank of Pakistan , the country’s central bank, has reportedly come to a decision to ban the use of all cryptocurrencies within the country. The central bank has also asked the Sindh High Court to ban “unauthorized operations” of crypto exchanges and impose penalties on them.
The 38-page report, submitted to the court by SBP Deputy Governor Sima Kamil, recommends a complete ban on all cryptocurrencies and related activities in Pakistan. Furthermore, the committee urged the court to ban “unauthorized operations” of crypto exchanges and impose penalties on them as some countries have done. The report cites recent investigations by Pakistan’s Federal Investigation Agency of crypto exchanges, including Binance, and the risks they pose to investors.
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