Pakistan Plans to Ban Cryptocurrencies as Stance Hardens: Reports

Posted on by American Coins & Gold

Pakistan Plans to Ban Cryptocurrencies as Stance Hardens: Reports
The government of Pakistan and its central bank want to ban the use of cryptocurrencies, local media reported, citing a document submitted to a provincial court.The document was compiled by a committee headed by Sima Kamil, a deputy governor of the State Bank of Pakistan (SBP). Other members included representatives from the Ministry of Finance, the Securities and Exchange Commission of Pakistan (SECP) and the Federal Investigation Agency of Pakistan (FIA).The submission is the first time a clear position has been taken by the central bank, according to the media reports. In 2018, the SBP issued a circular prohibiting banks…