SBP committee wants cryptocurrency banned in Pakistan

Lahore (NUT-DESK)

A complete ban should be imposed on cryptocurrency and other related activities in the country, says a committee of the State Bank of Pakistan.

The Sindh High Court had directed for the constitution of the committee under the supervision of SBP’s deputy governor, along with officials from ministries of finance and information technology, Pakistan Telecommunication Authority, and Security and Exchange Commission of Pakistan.

The court takes the committee’s opinion to mull over whether any form of cryptocurrency could be permitted under Pakistani law.

Filing compliance reports before the SHC on a petition against restrictions on trading virtual currencies, the committee suggested a complete ban on all cryptocurrency and other related activities in the country.