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Date: 2025-02-27 11:20:02
Pakistan has announced its plan to establish a national crypto council with the purpose of formulating legislation for the digital asset sector. This decision comes after a meeting with President Donald Trump's digital asset advisors, as reported by local news source Dawn.
This council will serve as a specialized advisory body, comprising representatives from the government, regulatory authorities, and industry experts. Its responsibilities will include policy formulation and cooperation with other nations to create standardized frameworks, according to a statement from the finance ministry, as cited in the report.
Until last year, the finance ministry of Pakistan had been against regulating cryptocurrencies within the country. However, Finance Minister Muhammad Aurangzeb has expressed his intention to consider the issue with an open mind. In a statement, he emphasized the significance of a well-regulated framework for digital assets, the report further added.
On Tuesday, Aurangzeb participated in a meeting with a foreign delegation, which reportedly included President Donald Trump's digital asset advisors.
Countries have been observing the U.S., which has been working towards creating crypto-friendly policies since the election of Trump.
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The Finance Ministry could not be reached by CoinDesk for comment.
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