Pakistan Forms Crypto Regulator and Begins Building BTC Reserve
The post Pakistan Forms Crypto Regulator and Begins Building BTC Reserve appeared on BitcoinEthereumNews.com. Pakistan has taken a significant step into the digital asset economy by launching a national crypto regulatory authority and initiating plans for a Bitcoin reserve. This development marks a major policy shift from its previous crypto restrictions and underscores the country’s evolving stance on blockchain technology. Launch of PVARA: A New Regulatory Framework The newly created Pakistan Virtual Assets Regulatory Authority (PVARA) will oversee the digital asset industry within the country. Its responsibilities include licensing cryptocurrency exchanges, enforcing anti-money laundering (AML) and know-your-customer (KYC) standards, and supporting innovation through regulatory sandboxes for blockchain startups. PVARA will operate alongside the Pakistan Crypto Council, an advisory group that includes legal, financial, and technological experts. This collaborative structure reflects the government’s attempt to balance innovation with consumer protection and financial stability. Pakistan’s Bitcoin Reserve and State Mining Program In addition to its regulatory framework, Pakistan has begun building a Bitcoin reserve, joining a small but growing group of nations experimenting with crypto as a strategic asset. While the scale of the reserve is currently unknown, the move reflects a strategy seen in countries like El Salvador and, more recently, Bhutan—both of which have adopted national-level Bitcoin holdings or mining programs. Sources suggest that the Finance Ministry has approved initial BTC purchases and exploratory partnerships with mining entities. State-backed mining trials are also underway, with government electricity resources allocated to controlled mining environments. These efforts may evolve into a broader crypto strategy aimed at enhancing the country’s fiscal resilience and expanding access to global financial markets. Will Pakistan’s Crypto Pivot Push India to Respond? Pakistan’s pivot may prompt neighboring countries—particularly India—to reassess their own crypto strategies. India has so far taken a cautious approach, imposing taxes on crypto transactions and discouraging the use of private digital currencies, even as it pilots a central bank…
The post Pakistan Forms Crypto Regulator and Begins Building BTC Reserve appeared on BitcoinEthereumNews.com.
Pakistan has taken a significant step into the digital asset economy by launching a national crypto regulatory authority and initiating plans for a Bitcoin reserve. This development marks a major policy shift from its previous crypto restrictions and underscores the country’s evolving stance on blockchain technology. Launch of PVARA: A New Regulatory Framework The newly created Pakistan Virtual Assets Regulatory Authority (PVARA) will oversee the digital asset industry within the country. Its responsibilities include licensing cryptocurrency exchanges, enforcing anti-money laundering (AML) and know-your-customer (KYC) standards, and supporting innovation through regulatory sandboxes for blockchain startups. PVARA will operate alongside the Pakistan Crypto Council, an advisory group that includes legal, financial, and technological experts. This collaborative structure reflects the government’s attempt to balance innovation with consumer protection and financial stability. Pakistan’s Bitcoin Reserve and State Mining Program In addition to its regulatory framework, Pakistan has begun building a Bitcoin reserve, joining a small but growing group of nations experimenting with crypto as a strategic asset. While the scale of the reserve is currently unknown, the move reflects a strategy seen in countries like El Salvador and, more recently, Bhutan—both of which have adopted national-level Bitcoin holdings or mining programs. Sources suggest that the Finance Ministry has approved initial BTC purchases and exploratory partnerships with mining entities. State-backed mining trials are also underway, with government electricity resources allocated to controlled mining environments. These efforts may evolve into a broader crypto strategy aimed at enhancing the country’s fiscal resilience and expanding access to global financial markets. Will Pakistan’s Crypto Pivot Push India to Respond? Pakistan’s pivot may prompt neighboring countries—particularly India—to reassess their own crypto strategies. India has so far taken a cautious approach, imposing taxes on crypto transactions and discouraging the use of private digital currencies, even as it pilots a central bank…
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