Govt looks to fast-track crypto adoption
The government seems willing to fast-track the adoption of crypto currencies for banks, foreign exchange companies and gold trading, sources told Dawn after a high-level meeting on Tuesday. A day earlier, representatives from the State Bank of Pakistan, finance ministry, commercial banks and exchange companies met with senior security officials to discuss steps to bring down the dollar price, stabilise the exchange rate and stop the smuggling of US currency to Afghanistan and Iran. Another meeting, held on Tuesday, was dominated by the crypto agenda and saw Pakistan Crypto Council (PCC) CEO Bilal Bin Saqib gave a presentation on the usage of virtual currencies in Pakistan. In May, Mr Saqib was appointed the PM’s special assistant on blockchain and cryptocurrency, with the status of a minister of state.