Cryptocurrency

As Pakistan remains in limbo about crypto, India decides to allow crypto experiments

While Pakistan continues to mull over whether it should become part of the cryptocurrency boom and regularize it, India has decided to become part of the revolution.

“We want to make sure there is a window available for all kinds of experiments which will have to take place in the crypto world. It is not as if we will look inwards and say we are not going to have any of this. There will be a very calibrated position,” the Foreign Minister of India told CNBC-TV18. 

The crypto stakeholders in India lauded the move. 

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is also scheduled to be discussed in the Indian parliament – Lok Sabha. 

The move comes as Bitcoin, among other cryptocurrencies, is increasingly gaining mainstream acceptance across the globe. Goldman Sachs has set up crypto desks, PayPal is buying off crypto security firms, and Tesla has invested billions in Bitcoin. However, Pakistan still lags despite the massive popularity of cryptocurrencies and movements such as Waqar Zaka’s #cryptokolegalkaro to demand the legalization of cryptocurrency.

Pakistan risks losing the opportunity to take advantage of crypto’s along with the rest of the world by not paving the way for its timely legalization. KPK legalized cryptocurrency last year, but the rest of the country, including the federal government, is yet to decide.

Read More: Cryptocurrency legalized in Pakistan by the KP assembly

Sponsored
Ahsan Zafeer

A digital marketing professional specializing in content-based functional areas - Ahsan Zafeer is driven by a never-ending passion for developing, nurturing, and strategizing key content aspects. He writes extensively on tech, digital marketing, SEO, cybersecurity, and emerging technologies. He also serves as a digital marketing strategist and freelance consultant for globally oriented organizations. He tweets @AhsanZafeer

Share
Published by
Ahsan Zafeer

Recent Posts

Garena Free Fire India Launch Rumors: What Fans Need to Know

Reports suggest that Garena Free Fire is set to make a much-anticipated return to India.…

17 hours ago

Albania Bans TikTok for One Year: Here’s the Reason!

The Albanian government has announced a ban on the social media platform TikTok for a…

21 hours ago

Google Pixel 9 Pro vs. 8 Pro: Biggest Upgrades Compared

The launch of Google’s latest Pixel lineup brings an exciting chance to compare the new…

22 hours ago

Azad Kashmir to Host Pakistan’s First Women-Centric Software Technology Park

ISLAMABAD: In February next year, Pakistan is set to launch its first women-focused software technology…

23 hours ago

HEC Reveals Law Admission Test Date for LLB Students

The Law Admission Test (LAT) has been announced by the Higher Education Commission (HEC) of…

24 hours ago

Meta’s WhatsApp to Release New Playback Speed Feature for Videos

Meta's WhatsApp is rolling out a new playback speed feature, allowing users to adjust video…

2 days ago