Pakistani Province Passes Draft Bill to Legalize Cryptocurrency Trading And Mining

2020-12-5 23:00

In Pakistan, a province in Khyber Pakhtunkhwa passed a law that makes cryptocurrencies and mining legal in the region.

According to a Provincial Assembly (MPA) member, Dr. Sumera Shams, the move will enable the country to position itself better to compete favorably with the digitized world.

A few weeks ago, the Pakistani Securities and Exchange Commission set a motion to introduce a regulatory framework for cryptocurrencies. But it seems the government is trying to speed things up pretty quickly with the recent developments in the sector. Pakhtunkhwa tweeted,

“Indeed #Pakistan progressing towards digitalisation to compete the world.”

Zia Ullah Bangash, an advisor to the Pakistani government, provided a picture of the signed proposal to confirm the news. The proposal was signed by ministers and advisors and addressed to the chief of the province.

The crypto legalization move by the KP province can influence other regions to follow in that direction.

Legalizing cryptocurrency will speed up its adoption

The KP parliament urges the Pakistani government to quickly approve the motion to ensure that the region is not left behind in the growing digital currency frenzy.

With the proactive steps, proponents of the policy think it will stay ahead of its neighbors regarding cryptocurrency adoption.

Based on earlier reports, Pakistan already has an adequately regulated framework for digital currencies. But cryptocurrency proponents in the country had a setback when the Pakistan government banned crypto trading in April.

With Bitcoin illegal in the country, authorities descended on crypto holders and miners. At the turn of the year, the Pakistani Federal Investigation Agency clamped down on two crypto mining farms in the Shangla district of Khyber Pakhtunkhwa.

But in a published report on November 6, the Pakistan Securities and Exchange Commission brought more clarity about its stance on cryptocurrency.

The regulatory agency also said it is prepared to listen to a “do no harm” approach when dealing with digital assets.

Pakistan looking to stay ahead of neighbors

But with this upturn of the decision to open the crypto market once again for business, Pakistan may likely be the first to legalize cryptocurrencies and mining among its neighbors.

A vocal crypto enthusiast and television host, Waqar Zaka, said he wants to take the same proposal to Punjab and Balochistan. He said he wants to help the region pass the same policy in Pakistani’s other provinces.

He says if the federal government doesn’t review his proposal, he intends to appear in the Sindh High Court on December 17.

The post Pakistani Province Passes Draft Bill to Legalize Cryptocurrency Trading And Mining first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Speed Mining Service (SMS) на Currencies.ru

$ 1.9622 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.9622 - H: $1.9622
Капитализация $205.406k Rank 99999
Доступно / Всего 104.68k SMS

mining province enable move shams mpa member

mining province → Результатов: 64


Фото:

Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners

In mid-August officials from the Chinese province of Sichuan approved a number of enterprises that mine bitcoin for legal hydropower consumption in the region. Following the local government of Ya’an city deciding to foster mining, officials from Chengdu recently spoke about welcoming crypto mining at the Hashcon 2020 event as well as bolstering a blockchain […] The post Sichuan’s Blockchain Park: Chengdu Government Officials Welcome Bitcoin Miners appeared first on Bitcoin News.

2020-9-2 11:30


Фото:

СМИ: власти Сычуаня запретили майнинг на территории провинции

Финансовая администрация китайской провинции Сычуань выпустила уведомление подконтрольным ведомствам с требованием об «упорядоченном прекращении майнинговой активности». The Financial Administrative of the #Sichuan providence of #China has issued a notice to its subordinate offices ordering them to “guide mining entities to end their mining activities in an orderly manner”.

2020-5-23 14:12


В одном из автономных районов Китая ограничат криптовалютный майнинг

Власти Внутренней Монголии решили ограничить криптовалютный майнинг на территории этого автономного района КНР. Об этом сообщает управляющий партнер фирмы Primitive Ventures Дови Ван со ссылкой на местные СМИ.

2019-9-14 18:13


Heavy Rains In China Force Bitcoin Miners To Stop Their Operations

Heavy rainfall in China’s Sichuan province has triggered land and mudslides leading to various local hydropower stations and Bitcoin mining farms to suspend their operations. Sichuan’s mountainous areas of Aba prefecture has been receiving heavy rains since Monday and local government now says landslides have now affected 17 counties in the area. There are several […]

2019-8-21 20:14


Canadian Province Offers Low-Cost Energy For Bitcoin Mining via Cold Climate, Hydroelectric Power

Bitcoin miners in Canadian provinces which include British Columbia, Quebec, Manitoba, Alberta, and Labrador are enjoying the perks of low-cost energy incentives. The Canadian province fits perfectly to the needs of running a Bitcoin mining operation due to its cool climate and abundance of hydroelectric energy availability. The perfect mining condition is aided by the […]

2019-4-17 19:25


Chinese Bitcoin Mining Centers Fear Electricity Cuts as Compliance Issues Loom

Having banned the exchanges where cryptocurrencies like Bitcoin are traded, the Chinese government is now cracking down on the plants where such currencies are mined. The Yingjiang Administration Bureau for Industry and Commerce, which enforces enterprises and consumer protection laws, issued a notification to the Bitcoin mining facilities operating in China’s Yunnan province.

2018-11-13 13:00


Chinese Region Halts Cryptocurrency Mining Operations

In-line with a strict government crackdown on all things crypto, a small province in China is forced to shut-down illegal bitcoin mining operations in the region before August 2018. Mining Crackdown As reported recently on local news Jinse, the northwestern Chinese region of Xinjiang Uyghur has identified “illegal” mining operations taking advantage of the naturally cool, […] The post Chinese Region Halts Cryptocurrency Mining Operations appeared first on CryptoSlate.

2018-7-24 07:00