Pakistani financial institutions are showing positive attitude towards cryptocurrency and also educational institutions are in favour of adopting cryptocurrency. Reports also claimed that crypto education is Increasing at tremendous levels in Pakistan.
According to reports financial institutions and civil society of Pakistan are taking the cryptocurrency market much seriously. There are many sectors where we can see adoption of cryptocurrency & Blockchain technology is taken in a positive way.
Central Banks Inclination Toward Crypto
In April Governor Reza Baqir stated that the State bank of Pakistan is studying Cryptocurrency & blockchain technology and soon they will announce their decision to regulate and adopt. Full statement by Reza Baqir seems much positive toward Cryptocurrency adoption in Pakistan.
“We hope to be able to make some announcement on that in the coming months”
Educational Institutions Inclination In Crypto
Higher education industry of Pakistan is also eager to adopt cryptocurrency & based blockchain technology. The country’s leading universities, the Lahore University of Management Sciences received a grant from the government to study cryptocurrency & Blockchain technology to create a Network of smart contracts through apps ( probably this idea of development of smart contracts to create CBDC). For this they got a $4.1 million fund from the government.
Social Media Inclination In Crypto
There are numbers of people who are leading the Pakistan crypto community to educate about cryptocurrency ( how to buy, sell, trade & basic technology that works).
Pakistani people are supporting their crypto community mainly through facebook with thousands of followers and also there are numbers of youtube channels which are giving education about cryptocurrency to teach people about cryptocurrency in Urdu language.
Waqar Zaka is a host of a TV show in Pakistan. Waqar has his youtube channel with over 1 million subscribers. He claimed that he is doing conversation with the government authorities to regulate & legalise cryptocurrency in Pakistan.
Also reports says, one of the government authority of Pakistan asked Waqar Zaka to help them to study about cryptocurrency and how the government authorities can generate revenue through the cryptocurrency legalisation & adoption.
Cryptocurrency is not illegal in Pakistan but also not legal. There is actually no rule for cryptocurrency. But right now financial authorities force & government authorities are studying and preparing for crypto regulation.
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