Khyber Pakhtunkhwa (KP) Meeting has unanimously handed a decision on legalizing cryptocurrencies and crypto-mining. With that, KP Meeting has change into the primary legislative meeting to have accredited a decision within the favor of cryptocurrencies in Pakistan.
Khyber Pakhtunkhwa’s Meeting anonymously handed my decision on #Cryptocurrency & #Cryptomining. Certainly #Pakistan progressing in the direction of digitalisation to compete the world. Kudos to @ZiaBangashPTI & @fawadchaudhry for his or her laborious work and dedication within the area. https://t.co/id2LUnnGBo pic.twitter.com/TbQvYDsMEl
— Dr Sumera shams (@SumeraShams) December 2, 2020
In keeping with particulars, PTI MPA, Dr. Sumera Shams, launched the decision within the provincial meeting on Wednesday. The draft of the decision states present developments recommend that digital currencies will change paper currencies sooner or later.
Whereas a number of central banks world wide have registered and issued cryptocurrencies, many international locations, together with the US, have taken concrete steps in the direction of introducing and legalizing cryptocurrencies.
Retaining these developments in view, the KP authorities calls on the federal authorities to register and formally introduce cryptocurrencies after implementing crucial laws, the draft concludes.