Pakistan creates 3 working groups to regulate cryptocurrencies

The federal government of Pakistan has formed three subcommittees to address the future of cryptocurrencies and related services, according to local media reports.

The first commission is headed by the legal secretary of the State Bank of Pakistan (SBP) and includes the Federal Investigation Agency (FIA) and the Pakistan Telecommunication Authority (PTA).

Two other subcommittees were established under the chairmanship of SBP Deputy Governor Saima Kamal. The group includes representatives of the Ministry of Information Technology, Securities and Exchange Commission of Pakistan, PTA and others.

The subcommittees will prepare their proposals and send them to a committee headed by the finance minister, after which the country will prepare recommendations on the future of cryptocurrencies.

Earlier this year, the SBP recommended a ban on cryptocurrencies. One of the country’s largest banks quickly followed suit, asking customers not to use the bank for cryptocurrency transactions.