Fawad Chaudhry Discloses the Future of Cryptocurrencies in Pakistan

Fawad Chaudhry  the Federal Minister for Information and Broadcasting Discloses the Future of Cryptocurrencies in Pakistan by saying that Pakistan have no plans to legalize cryptocurrency in this part of the region any time soon.

He briefed that since since there is no solid backing available behind the cryptocurrency therefore usage of such type of digital currency based on only the trust it has developed in the global market cannot be allowed in Pakistan.

He further added that once solid reason to not legalized it is that Pakistan is bound due to FATF condition to keep aside from allowing any such mode of payment in the country.

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It has also been learnt that the other reason for non implementation of Cryptocurrency mode in Pakistan that digital currency are very unpredictable at the moment and are clue less to offer a clear picture of where they are headed in terms of value so its difficult to allow any such mode of Digital payment in the country said Mr Fawad.

Moreover he is of the view that in near future the world will need to evolve towards a unified digital payment system.

Crypto Currency which is also know as Virtual Currency has been gaining lot of attention from all around the globe and people are have shown great interest in investing their money in it during the last few years.

Since it is the era of Digital transaction’s and next few years may further push countries to adopt more and more digital transformation and Cryptocurrency trading is one of them.

Although the Cryptocurrency is not been given legal status in Pakistan and still remains a still remain a question mark to be legalize soon in near future yet, but the the country still has got  lot of people who are willing to invest in this Digital mode of payment.



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