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Business & Finance

KP Government Legalizes Cryptocurrency: Zia Ullah Bangash

  • The Government of Khyber Pakhtunkhwa (KP) has unanimously passed the resolution to legalize cryptocurrency and crypto mining, according to Zia Ullah Bangash.
03 Dec, 2020
Source: Reuters
Source: Reuters

The Government of Khyber Pakhtunkhwa (KP) has unanimously passed the resolution to legalize cryptocurrency and crypto mining, according to recent tweets by Zia Ullah Bangash, Advisor to Chief Minister KP on Science and Technology.

The resolution urged the KP assembly to ensure that Pakistan stays up to date with advancements in digital technology around the globe.

Dr. Sumera Shams, a Member of the Provincial Assembly (MPA) of KP, also tweeted about this resolution and commented that it is a step towards greater digitization in Pakistan, which will enable it to compete with the rest of the world.

As, many countries have already started adopting cryptocurrencies for facilitating everyday transactions, this resolution aims to boost Pakistan's digital economy.

The provincial government plans on formulating a set of laws to regulate the use of cryptocurrency and crypto mining in KP.

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