pakistancryptoupdate

🚨 Big Move by SBP! Pakistan set to legalize Virtual Assets 📈 and launch its own Central Bank Digital Currency (CBDC) 🇵🇰 A new era for finance begins!
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Now Pakistan has also become a part of the crypto market,which is good for the people as well as for the country.
Bullish For Pakistanis📉.

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In a major policy shift, Pakistan is going to officially legalise cryptocurrency trading. The Virtual Assets Ordinance, 2025, signed by the President, creates a legal framework for digital assets and establishes a new federal body, the Pakistan Virtual Asset Regulatory Authority (PVARA).
This move replaces the previous ban and aims to bring the country's multi-billion-dollar crypto market into a regulated environment. The change is driven by a need to align with international standards, particularly those of the FATF, and to promote innovation in the digital economy.
The new law will require crypto service providers to be licensed by PVARA and will introduce consumer protections, formalizing an industry that previously operated in a legal grey area. The State Bank of Pakistan has also given its "in-principle approval" for the move and is now planning to pilot its own Central Bank Digital Currency (CBDC), the "Digital Rupee."
This is a significant step that positions Pakistan to benefit from the global digital finance revolution by fostering innovation and creating a secure, transparent, and regulated market for digital assets. #pakistancryptoupdate

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BlackRock & Binance Collab on Tokenized Treasury Fund
Binance announced that it is integrating the tokenized short‑term U.S. Treasury fund from BlackRock (the fund known as “BUIDL”) as collateral in its off‑exchange settlement and institutional services.
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#Cryptocurrencies:

According to Cointelegraph, Pakistan has initiated a new federal regime to attract international crypto businesses, inviting leading exchanges and virtual asset service providers (VASPs) to apply for licenses. The Pakistan Virtual Asset Regulatory Authority (PVARA) has called on major crypto firms to submit Expressions of Interest (EoIs) to enter the country's digital asset market. #BilalBinSaqib , PVARA chair and minister of state for crypto and blockchain, emphasized the invitation as a step towards building a transparent and inclusive digital financial future for Pakistan.
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The crypto market's $400 billion loss in 24 hours is indeed staggering.

To put it into perspective
- Pakistan's GDP: The estimated GDP for Pakistan is around $300-350 billion. So, the loss is roughly equivalent to Pakistan's GDP for nearly a year.
- Pakistan Stock Exchange: The total market capitalization of the Pakistan Stock Exchange is approximately $35-40 billion. The crypto market loss is equivalent to 10-12 times the PSX's market cap.
- Pakistan's exports: The country's annual exports are around $25-30 billion. The loss is equivalent to 13-16 times Pakistan's annual exports.
-Pakistan's external debt: The external debt is roughly $120-130 billion. The crypto market loss is equivalent to 3-3.4 times Pakistan's external debt.

Given the significant impact of such a loss, it's crucial for governments and regulatory bodies to carefully consider their approach to cryptocurrency regulation and investment.

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