Pakistan recently allocated 2,000 megawatts to bitcoin mining and AI centers. The move, which was not discussed with the International Monetary Fund, has raised concerns.

The country announced plans to create its first government reserve in BTC, as well as the Pakistan Digital Assets Authority, which will regulate the crypto ecosystem.

Without being consulted, the IMF has expressed deep concern about the legality of these decisions, as well as “their fiscal impact and the use of energy resources in a context of scarcity.”

Pakistan made the announcements during the Bitcoin 2025 Conference in Las Vegas, where it also announced the launch of a “state-owned digital wallet.” This initiative marks a radical shift in the country’s financial policy, shifting toward the digital economy as a strategic axis of development.

IMF representatives have requested clarification from the Ministry of Finance on the “legality of the movement and allocation of energy, especially considering the chronic electricity shortages and the country’s fiscal constraints.”

The international organization has reiterated the requirement for prior approval for new policy measures. In any case, Pakistan’s decisions are part of a broader government strategy to integrate digital assets into its national economy. In addition to the creation of the Pakistan Digital Assets Authority (PDAA), the country will launch “crypto exchanges, wallets, stablecoins, and decentralized finance (DeFi) platforms.”

M.Pino

Source: diariobitcoin

(Reference image source: Kanchanara on Unsplash)

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La entrada IMF expresses concern over Pakistan’s Bitcoin reserve apareció primero en Bitfinance.

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)

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

Miftah Ismail wondered at a press conference on Pakistan Television, collected by the state agency APP, how the government can speak of real freedom without achieving economic self-sufficiency.

In this regard, the minister declared that the previous government was leading the country into non-compliance, while the Prime Minister’s Executive, Mohamed Shehbaz Sharif, would have saved the nation from bankruptcy. “We have saved the country from a situation like the one in Sri Lanka,” he said.

The delegate of the economic portfolio has assured in an interview with Bloomberg News that he wants to break the cycle of boom and bust that has developed for decades in Pakistan so that the nation lives within its means.

“I want to see a Pakistan that lives within its means. That’s all,” he declared, before clarifying that these plans “can’t happen in a year”, but he has asked to start with the programs.

Since taking office in April, the former IMF economist has worked to reduce the huge trade gap and current account deficit. The minister expects economic growth of more than 3.5 percent for the fiscal year.

Imports from Pakistan must be equal to the inflow of dollars from exports and remittances provided by citizens living abroad, he has indicated, therefore, he has proposed that the restrictions on luxury items remain in force longer than provided.

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Source: dpa

La entrada Pakistan advocates economic self-sufficiency apareció primero en Bitfinance.

The veto of Chinese technology companies continues. The United States Department of Commerce added a dozen new Chinese technology companies to its “blacklist” by blocking them commercially on the grounds of national security, as did the administration of former President Donald Trump with Huawei.

The information was provided by Gina Raimondo, Secretary of Commerce, in a statement where she states: “World trade must support peace, prosperity and well-paying jobs, not risks to national security.”

The new preliminary list includes a total of 27 organizations from China, Japan, Pakistan and Singapore. It also highlights that some of these companies are based in China and Pakistan and have identified relationships with “nuclear and ballistic missile programs”. Chinese companies, in particular, “would be contributing to military technology projects for quantum computing for the Chinese army.

Control measures

Chinese companies joining the veto are Hangzhou Zhongke Microelectronics Co., Ltd., Hunan Goke Microelectronics, Corad Technology Limited, New H3C Semiconductor Technologies Co., Ltd., Xi’an Aerospace Huaxun Technology, Yunchip Microelectronics, Hefei National Laboratory for Physical Sciences at Microscale, QuantumCTek Co, and Shanghai QuantumCTeck Co.

Perhaps these organizations do not have the global popularity of Huawei or Xiaomi, however, they have an important participation within the information technology and telecommunications sector that has allowed them to carry out projects with the military organizations of countries such as China and Pakistan.

M. Rodríguez

Source: fayerwafer

La entrada US continues to veto China’s tech companies apareció primero en Bitfinance.

The Sindh High Court, SHC, asked the government to draw up guidelines that allow the regulation of cryptocurrencies. The decision was made during a petition to challenge the decree, issued in 2018, on the prohibition of cryptocurrencies in the country.

The highest court in the country issued instructions for state regulators such as the Pakistani Securities and Exchange Commission (SECP) and the Central Bank to manage before other official bodies – such as the Ministries of Information Technology and Law – the necessary strategies and activities that facilitate the development of regulatory measures for digital currencies in a period of three months.

Additionally, the SHC demanded, in the same period of time, the presentation of a report containing the measures that are being developed on the regulation of cryptocurrencies in the country, which the Securities and Exchange Commission has been working on since November 2020.

The objective of cryptocurrency regulation is focused on the “fight against money laundering and terrorist financing”, particularly in the framework of “pressure from the Financial Action Task Force”.

The order issued by the highest court makes Sindh the latest province to urge any recognition for cryptocurrencies in Pakistan. At the end of 2020 the Assembly of Khyber Pakhtunkhwa asked the federal government to legalize cryptocurrencies, assuring that “cryptocurrencies were prepared to replace fiat money in the future.”

For its part, the State Bank of Pakistan, SBP, is studying the possibilities of issuing a digital currency, like many central banks in other countries around the world.

M. Rodríguez

Source: cointelegraph

La entrada Pakistan supreme court orders to regulate cryptocurrencies apareció primero en Bitfinance.

Pakistani Prime Minister Imran Jan invited the opposition to sit down with the government on Saturday to discuss electoral reforms, including the implementation of an electronic vote, which would restore “credibility” to the voting process after the controversial elections premises on Friday in Karachi, in which the opposition Pakistan People’s Party (PPP) claimed victory.

“Despite the low turnout, all parties are crying and saying that the results have been manipulated,” said Jan, before proposing the integration of an electronic vote to guarantee the transparency of future elections.

The prime minister has given the example of the US elections in November, in which the defeated Donald Trump was unable to present a credible allegation of manipulation thanks to the use of electronic voting. “Thanks to the use of this technology, not a single irregularity was found. That is why we are asking the opposition to cooperate with us and help reform our current electoral system,” he explained on his Twitter account.

In contrast, the vice president of the Pakistan Muslim League – Nawaz (PML-N) and one of the country’s most prominent opposition leaders, Maryam Nawaz, has responded to Jan that if the victory was transparent, no political party should have problems. to carry out a count.

“The margin of victory is a few hundred votes and the number of rejected votes exceeds this margin. To ask for a recount with a difference of less than five percent is our legal and constitutional right,” he declared.

Source: dpa

La entrada Electronic voting proposed in Pakistan to avoid fraud apareció primero en Bitfinance.