Pakistan’s Finance Minister Muhammad Aurangzeb held a meeting with advisers to US President Donald Trump to discuss cryptocurrencies, resulting in a shift in support of digital assets.

Pakistan’s government will now consider creating a National Cryptocurrency Council to achieve legalization and promote adoption in the country.

Such a council would be made up of “key government representatives, regulatory authorities and industry experts” and would be tasked with overseeing “policy development, addressing regulatory challenges and ensuring that the country’s crypto ecosystem evolves in a sustainable and secure manner.”

To benefit the more than 20 million residents involved in cryptocurrencies, who face obstacles such as high transaction fees, Minister Aurangzeb has given orders for the creation of a framework that “ensures economic viability and regulatory compliance, protecting against financial crimes and illicit activities.”

It is important to remember that the official had previously asked the authorities to study the legalization and regulation of crypto assets. By November 2024, the State Bank of Pakistan unveiled “a package of proposals that would have paved the way for a central bank digital currency, or CBDC, and the purchase, sale and trading of cryptocurrencies.”

M.Pino

Source: cointelegraph

(Reference image source: Mahreen Sarwar on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Pakistan to create a National Cryptocurrency Council apareció primero en Bitfinance.

Amid the war in Ukraine, the country is heading towards the early legalization of Bitcoin, according to the chairman of the Committee on Finance, Taxes and Customs Policy of Ukraine, Danylo Hetmantsev.

Ukraine would be one of the first countries to adopt a comprehensive legal framework for cryptocurrencies, whose bill is in the final stage of drafting and could be approved by mid-year.

Hetmantsev confirmed the information and stressed that “the legalization of cryptocurrencies is a priority for the Ukrainian government, which seeks to attract foreign investment and strengthen its economy amid geopolitical challenges.”

In this regard, the country is preparing a tax system similar to that of other investment assets to ensure tax equity and avoid distortions in the market. “A transition period is being considered for those investors who cannot document the acquisition of their digital assets, facilitating their incorporation into the new legal framework.”

On the other hand, the government rules out “tax benefits or special incentives for companies and individuals operating with cryptocurrencies,” since, according to international experts, this could translate into a disproportionate tax burden for traditional industries.

Currently, the National Securities and Exchange Commission is the entity designated to supervise the cryptocurrency market. However, it does not have the necessary institutional capacity. Therefore, the government is studying the possibility that the National Bank of Ukraine will temporarily take on this responsibility, “guaranteeing effective supervision and the protection of investors.”

Necessary measures will be taken to prevent crimes such as money laundering and other illegal activities, promoting an investment-friendly environment.

M.Pino

Source: cripto247

(Reference image source: Glib Albovsky on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Ukraine plans to approve the legalization of Bitcoin this year apareció primero en Bitfinance.

The authorities of the National Electricity Corporation (Corpoelec) of Venezuela reconnected the electricity service of the digital mining farms in Carabobo State, which were disconnected last week for allegedly affecting energy stability in the region, which is presenting serious limitations in the generation and distribution of the service.

The National Superintendency of Crypto Assets and Related Activities (Sunacrip) held a meeting with the miners involved in the problem in order to coordinate the logistics for the reactivation of energy and avoid further losses.

The board of directors of the National Association of Cryptocurrencies (Asonacrip) visited one of the 12 disconnected farms, to find out their situation and assured, through its social network Instagram, that “the affected farms operated in industrial parks prepared for the activity and not they harmed the energy consumption of the central region of the country.” Also indicating that the consumption of these farms does not “exceed 2 % of the electricity generation not used in the entity.”

Legal mining

In Venezuela, mining activities are completely legal, as long as the people who perform these tasks meet the requirements established by Sunacrip. This institution has been developing, since July, a comprehensive plan to facilitate normalization and legalization of digital mining in the country.

Sunacrip has also been working with Corpoelec to streamline the procedures for miners so that they can obtain their license in a timely manner to complete the registration and certification process.

M. Rodríguez

Source: morocotacoin.news

La entrada Electrical service to miners in Carabobo was restored apareció primero en Bitfinance.