K-P assembly passes resolution to legalise cryptocurrency

Announcement was made by Dr Sumera Shams on Twitter

KHYBER PAKHTUNKHWA:

K-P assembly unanimously passed the resolution to legalise cryptocurrency and crypto mining, member of the Provincial Assembly (MPA) of Khyber-Pakhtunkhwa (KP) Dr Sumera Shams announced on Twitter.

Dr Shams wrote: “Indeed Pakistan progressing towards digitalisation to compete the world”.

Khyber Pakhtunkhwa's Assembly anonymously passed my resolution on #Cryptocurrency & #Cryptomining. Indeed #Pakistan progressing towards digitalisation to compete the world. Kudos to @ZiaBangashPTI & @fawadchaudhry for their hard work and dedication in the field. https://t.co/id2LUnnGBo pic.twitter.com/TbQvYDsMEl

— Dr Sumera shams (@SumeraShams) December 2, 2020

Advisor to Chief Minister Khyber Pakhtunkhwa on Science & Technology and Information Technology also tweeted about the development:

 

KP Assembly passes resolution regarding Cryptocurrency and Cryptomining demanding federal govt to take steps to legalise #cryptocurrency and #cryptomining in Pakistan. #DigitalPakistan pic.twitter.com/8a9CAL6zyr

— Zia Ullah Bangash (@ZiaBangashPTI) December 2, 2020

Zia Bangash also shared the draft of the resolution which is urging “the assembly to ratify the resolution so that Pakistan stays with the advancement in digital technology in the world”.

Furtther, the draft read: “The federal government should also formulate a set of laws to regulate cryptocurrency and crypto mining in Pakistan, especially in KP”.

Last year, the federal government decided to introduce the Electronic Money Institutions (EMIs) regulations today [Monday] for regulating digital currencies as part of its action plan pertaining to the Financial Action Task Force [FATF]. Regulations were prepared in order to monitor and regulate digital currency in Pakistan