Pakistani users trade over $250bn in crypto annually, Binance reveals ⢠Around 17.5m Pakistanis registered on platform, holding $5bn in virtual assets ⢠Banks flag security, compliance concerns over crypto integration
ISLAMABAD: The government said on Friday it was considering a ātime-bound amnĀestyā for cryptocurrency traders, as local banks raised risk and compliance concerns amid more than $250 billion in annual crypto trading reportedly conducted by Pakistani users.
Officials floated the idea at a high-level consultative meeting after a top global cryptocurrency exchange argued that virtual assets could boost Pakistanās GDP.
āThese virtual assets should be considered as part of liquid money supply (M-1) ⦠virtual assets collateralisation will help increase M-1ā because these are highly visible and dependable, a Binance team member told the meeting, co-chaired by Finance Minister Muhammad Aurangzeb and Pakistan Virtual Assets ReguĀlatory Authority (PVARA) Chairman Bilal Bin Saqib. $BTC $ETH $BNB #Binance #pakistanicrypto #Write2Earn #cryptouniverseofficial
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