Pakistan plans to create a legal framework for the crypto in order to attract international investors in the country of Central Asia.
“Pakistan has finished sidelining; we want to have a regulatory clarity; we must have a legal framework that is pro-enterprise,” Pakistan CEO of the Crypto Bilal Bin Saqib council told Bloomberg on March 20.
“We want Pakistan as a leader of finance fueled by blockchain, and we want to attract international investments,” he added. “Sixty percent of the population are under 30 years old [years old]We have a web 3-person workforce ready to build. »»
Earlier this month, SAQIB was appointed chief advisor to the Pakistani Minister of Finance for the management of cryptocurrencies.
The blockchain analysis company, the analysis firm, ranked ninth Pakistan for the adoption of cryptography last year, and SAQIB said that there were up to 20 million Pakistani crypto users.
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He called US President Donald Trump “the greatest bullish catalyst in the crypto in history”. Trump decided to create a bitcoin reserve and a crypto stock using digital assets confiscated from the government.
“Trump makes crypto a national priority, and each country, including Pakistan, will have to follow the step or may be left behind,” said Saqib.
SAQIB was appointed CEO of Pakistan Crypto Council on March 14 by the financial division of the current Pakistani government. “This is only the start, Pakistan is open to business,” he said at the time.
According to SAQIB, developing countries like Pakistan and Nigeria have a lot to benefit from the adoption of blockchain and cryptography. He said:
“By taking advantage of the blockchain for funding and trade, the two nations can reduce dependence on traditional banks, a drop in costs of 5 to 9% and create seamless cross -border payment networks.”
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