Pakistan now ranks 9th globally in crypto adoption, with an estimated 15 to 25 million people actively involved in crypto.
That number far exceeds
the roughly 350,000 stock market registrants
and even the ~6 million registered tax filers.
For years, crypto remained illegal.
And during that time, billions in potential tax revenue were left on the table
while millions of citizens continued using crypto anyway.
This is what happens when adoption moves faster than regulation.
The market does not wait.
Crypto found its users.
The question now is whether policy will catch up.
