Monday October 02, 2023

Blocking progress

June 10, 2023

While the use of cryptocurrency is still relatively new in the country, it has gained a lot of interest among the people, particularly among the tech-savvy youth. Its potential as a means of payment, in particular, has attracted a lot of interest. Many people are using cryptocurrencies like Bitcoin to make online purchases, pay for services and transfer money across borders. This is because cryptocurrencies offer a fast, secure and low-cost way to make transactions. Furthermore, the popularity of these digital currencies as an investment tool is also growing.However, there are also challenges to the adoption of cryptocurrency in Pakistan. One of the biggest challenges is the lack of regulatory clarity. The State Bank of Pakistan has issued warnings against the use of cryptocurrencies and there is no clear legal framework for their use. This has led to uncertainty among businesses and investors, limiting the growth of the cryptocurrency ecosystem in the country.

Hira Nasir