Pakistan plans to establish a new national authority to regulate the rapidly growing crypto and blockchain ecosystem.

Pakistan plans to establish a new national authority to regulate the rapidly growing crypto and blockchain ecosystem.

Pakistan creates new national authority to regulate crypto and blockchain

Pakistan plans to set up a new national authority that is responsible for monitoring the country's rapidly growing crypto and blockchain ecosystem. This initiative aims to create a clear legal framework for digital currencies and blockchain technologies in order to promote both innovations and to protect investors.

The new authority will act as a central point of contact to coordinate the regulation of crypto activities and to promote the use of blockchain technologies in various sectors. This is particularly important in view of the global increase in crypto use and the associated challenges. The measure could help to position Pakistan as an attractive location for technology investments and to strengthen trust in digital financial services.

The introduction of this authority is an important step towards a structured development of the cryptom market in Pakistan and could help increase the legal and safety standards in the country. This shows the commitment of the Pakistani government to achieve progress in the field of digital currencies and blockchain technology.

The new national authority will also have the task of providing information and clarifying the public about the opportunities and risks related to crypto investments. The government would like to ensure that the population is well informed and can make sound decisions.

Overall, Pakistan faces the challenge of finding a balance between regulating cryptocurrencies, the protection of consumers and promoting innovations. The creation of a national supervisory authority is an important step in the right direction to make the future of the digital financial market in the country sustainable.