2021-4-9 15:46 |
State Bank of Pakistan governor Reza Baqir says the country is “waiting to burst as far as digitization is concerned.”
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Pakistan and El Salvador have launched a formal bilateral agreement to advance cryptocurrency cooperation, marking the first instance of a cross-border pact that places digital assets at the forefront of foreign policy.
Pakistan's push to link stranded energy to digital infrastructure now hangs in the balance.
Pakistan will allocate 2,000 megawatts of electricity for Bitcoin mining and artificial intelligence (AI) data centers. According to a Bloomberg report, the Pakistan Crypto Council (PCC) overseeing the project confirmed that three underutilized coal-powered plants, currently operating at just 15% capacity, will be repurposed to support this initiative.
In a major win for Pakistan’s cryptocurrency market, Changpeng Zhao (CZ), the co-founder and former CEO of Binance, the world’s largest crypto exchange, has been appointed as a strategic adviser to the Pakistan Crypto Council (PCC).
According to a recent The Express Tribune report, Pakistan is set to reshape its financial landscape by proposing amendments that would empower the State Bank of Pakistan (SBP) to issue digital currency and manage both physical and digital forms of money.
The IMF wants Pakistan to increase tax measures on crypto profits to secure a $3 billion bailout for its faltering economy.