The value and popularity of the crypto industry have got several mainstream companies entering the market. Pakistan’s latest news reveals that even governments have been taking an interest in digital assets. Turns out, big tech companies aren’t the only ones trying to make an entry into the crypto market. Governments seem to have become immensely accepting of these assets. Pakistan’s latest news is substantial proof of the same.
Pakistan Province Passes A Bill Regarding Crypto
An advisor to the government of Pakistan, Zia Ullah Bangash recently shared a tweet revealing that a bill was unanimously passed in the country. He further pointed out that this bill demanded laws for crypto ownership as well as the mining of Bitcoin. Several ministers along with a few advisors were on board with this decision as they had signed the bill that was addressed to the Chief Minister of the Khyber Pakhtunkhwa province.
Zia Ullah Bangash’s tweet read,
“KP Assembly passes resolution regarding Cryptocurrency and Cryptomining demanding federal govt to take steps to legalise #cryptocurrency and #cryptomining in Pakistan. #DigitalPakistan”
While this bill did not face any hurdles as no resentment was garnered by the opposition, several poured in their thoughts on the advisor’s tweets. Even though it was a thumbs up by the Khyber Pakhtunkhwa province of the Northern Pakistan region, several in Zia Ullah Bangash’s tweet suggested that this was a grave mistake.
The pandemic curated by COVID-19 had several economies go down the drain and Pakistan was one of the worst-hit. The country took a step towards digitalization during these times would be highly beneficial for the country.
Waqar Zaka has been spearheading the Technology Movement in Pakistan. The crypto influencer seemed to be happy with the country’s latest move. Zaka took to Twitter and suggested that he would go on to urge other provinces to pass a bill to legalize crypto. His tweet read,
“One province done , three more to go , KPK visit brought fruitful results. Now I will be going to Punjab , Baluchistan to get these bills passed for crypto , Technology Movement Pakistan producing results even before getting into elections”
Despite being drowned in court cases for carrying out crypto activities while it is illegal in the country, Zaka revealed that he had installed “Pakistan’s first and biggest crypto mining farm in KPK.”