Pakistan will create regulatory framework for cryptocurrencies
The decision of the creation of the laws came thanks to the request of the Financial Action Work Force (FATF)
In order to create regulations for Electronic Money Institutions (EMIs), since Monday, April 1, the government of Pakistan is developing this legal framework.
This arises after the Financial Action Task Force (FATF) made the request to the EMIs for the creation of laws for cryptocurrencies.
For the official launch of these laws, a ceremony is planned to be held in the Islamabad office of the State Bank of Pakistan.
In this event the federal minister of finance, Asad Umar and the president of the institution, Tariq Bajwa will be part of the guest list, along with other personalities.
The regulations will help the country combat money laundering and financing of terrorism, one of the main concerns of the country’s government and the FATF. Also, they aspire that they serve to encourage the growth of this industry in the country.
K. Tovar
Source: Coincrispy
