PESHAWAR – The Khyber Pakhtunkhwa (KP) government has decided to legaliseBitcoin mining, set up two of its own cryptocurrency plants, and give NOCsto private entrepreneurs to establish their own mining setups.
Talking to the media on Friday, Ziaullah Bangash, adviser to KP chiefminister on Information Technology, said a bill had been passed in theprovincial assembly and funds have been approved in this regard.
Bangash said the government felt Pakistan was lagging behind in the fieldof cryptocurrency and had decided to make amends. He said there are 11million bitcoins in circulation in the world with a daily increase of 90%.He added that the US was leading the world in this field followed byNigeria, China, Canada, UK, and India.
He hoped that other provinces would follow KP’s example soon.
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The State Bank had told the Sindh High Court in December 2020, thatcryptocurrency was not illegal in Pakistan, though there was no legislationin this regard.
