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Pakistan sets up cryptocurrency committee to regulate blockchain and digital assets
Editor
11 hours ago 4,097
Golden Finance reported that the Pakistani government established the Pakistan Cryptocurrency Commission (PCC) to oversee the integration and use of blockchain technology and digital assets in the country's financial field. The PCC’s agenda includes developing clear regulatory guidelines for cryptocurrency adoption, working with international cryptocurrency and blockchain organizations, and promoting responsible innovation. The committee will also focus on consumer protection and financial security through a sound legal and compliance framework. Finance Minister Muhammad Aurangzeb will chair the committee, leading a diversified committee that includes senior officials from major financial and regulatory agencies. The leadership is composed of the President of the National Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), and the Minister of Federal Law and Information Technology, aims to ensure a comprehensive approach to regulatory oversight, financial stability and technological advancement. Pakistan is currently one of the countries with the highest adoption rates of cryptocurrency, with an estimated 20 million active cryptocurrency users and a cryptocurrency transaction volume of more than US$20 billion.
Keywords: Bitcoin
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