Crypto-assets have been banned by the Pakistani government’s federal bank and its state bank. So far, there haven’t been any regulations regarding cryptocurrencies implemented in Pakistan.

As Yahoo reported:

“On October 20, the Sindh High Court told the federal government to regulate cryptocurrencies within three months. To determine the legal status and legitimacy of cryptocurrency, the court ordered the government to create a committee under the leadership of the federal secretary to finance.
The court requested the report from the authorities. It stated that crypto cannot be used. Since they may be part of terrorist acts or money laundering, cryptocurrencies are illegal in this country.

“I don’t think this means Pakistan has decided to ban it,” said Faisal Aftab, a co-founder of Zayn Capital (an investment firm in Pakistan). I believe they are still looking at regulation. There is still uncertainty about whether cryptocurrencies are to be used as assets in Pakistan. But it’s almost clear that it will not be considered a legal tender.”

Flipside

• Minimum 11 countries have ban crypto-assets, which includes China and Saudi Arabia.
• According to President Nasir Hayat Majoon of Federation of Pakistan Chambers of Commerce and Industry, $20 billion has been invested by Pakistani investors in cryptocurrency.