Imran Khan's administration in Pakistan made significant strides in cryptocurrency regulation, as outlined below:
- **Establishment of Cryptocurrency Taskforce (2018)**:
- Imran Khan's government formed a taskforce to evaluate the implications of cryptocurrency and propose regulatory measures.
- The taskforce focused on understanding both the benefits and risks associated with digital currencies.
- **Recommendation for Legalization (2020)**:
- Following the taskforce's recommendations, the government moved towards legalizing cryptocurrency in Pakistan.
- Efforts were initiated to develop a regulatory framework ensuring the legality and security of crypto transactions.
- **State Bank of Pakistan Guidelines (2021)**:
- In 2021, the State Bank of Pakistan (SBP) issued comprehensive guidelines for Electronic Money Institutions (EMIs), including cryptocurrency exchanges.
- These guidelines aimed to foster transparent and secure operations within the digital currency sector.
- **Pakistan Telecommunication Authority (PTA) Actions and Reactions (2021)**:
- The PTA initially blocked cryptocurrency exchange websites in 2021, which raised concerns among users.
- However, following the SBP guidelines, the PTA reversed its decision, permitting exchanges to resume activities.
- This move reassured stakeholders about the government's commitment to supporting the cryptocurrency ecosystem.
- **Introduction of Cryptocurrency Bill (2022)**:
- In a significant legislative move, Imran Khan's government introduced a bill in the National Assembly to formally regulate and legalize cryptocurrency.
- This bill aimed to establish a clear legal framework for the use and trading of digital currencies in Pakistan.
These actions collectively reflect Pakistan's progressive approach towards integrating cryptocurrency into its financial landscape, emphasizing regulation and security for digital currency users.#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceHODLerBANANA #BinanceTurns7
