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Pakistan Proposes Amendments to SBP Act to Legalize Cryptocurrencies

Nov 4, 2024, 10:10 AM

Pakistan is making significant strides towards the legalization of cryptocurrencies. The government has proposed amendments to the State Bank of Pakistan (SBP) Act, which would allow the central bank to issue digital currencies and manage money in both digital and traditional forms. This move represents a major shift in Pakistan's financial policy and positions the country to embrace the growing global trend of digital currencies, including Central Bank Digital Currencies (CBDCs).