Total amount of Crypto Currency purchased by Pakistanis

BusinessTotal amount of Crypto Currency purchased by Pakistanis

Crypto Currencies are not legal tender, issued or guaranteed by the government of Pakistan; therefore, the State Bank of Pakistan (SBP) has not authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such virtual currencies/ coins/ tokens in Pakistan.Total amount of Crypto Currency purchased by Pakistanis

Moreover, the SBP has refrained its regulated entities from processing, using, trading, holding, transferring value promoting and investing in Crypto Currencies.


The SBP has also instructed its regulated entities not to facilitate their customers in transacting in virtual currencies/tokens.

However, if there is a suspicion about any transaction, the regulated entities have to file Suspicious Transaction Report (STR) with the Financial Monitoring Unit (FMU) for onward investigation as per AML Act, 2010.

The SBP does not maintain any data regarding Crypto Currencies purchased or sold by Pakistanis.

Since the Crypto Currencies are traded on virtual platforms such as Crypto Exchanges located in overseas jurisdictions and not monitored by any authority in Pakistan; therefore, activity of sale and purchase of Crypto Currencies by Pakistani individuals cannot be ascertained.Total amount of Crypto Currency purchased by Pakistanis

Impact of purchase of Crypto Currency on national economy?

Since there is no central data available regarding sale/purchase of Crypto Currencies; therefore, the impact of such transactions on national economy cannot be determined.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Chief of Defence Forces Australia calls on CJCSC General Sahir Shamshad

RAWALPINDI, Pakistan: The Chief of Defence Forces Australia General Angus J. Campbell, who is on official visit to Pakistan for 13th Round of Pakistan-Australia...

PM Shahbaz reaffirms Pakistan’s firm commitment to further expand cooperation with Türkiye

ISLAMABAD, Pakistan: The Minister of Foreign Affairs of the Republic of Türkiye Hakan Fidan met Prime Minister Shahbaz Sharif in Islamabad on Monday.While...

Rana Tanveer inaugurates Rachna Industrial Park in Sheikhupura

SHEIKHUPURA, Pakistan: The Federal Minister for Industries and Production and National Food Security Rana Tanveer Hussain on Monday inaugurated the Rachna Industrial Park in...

Pakistan condoles tragic death of Iranian President & FM in helicopter crash

ISLAMABAD, Pakistan: The Ministry of Foreign Affairs has said that the government and the people of the Islamic Republic of Pakistan are deeply shocked...

Pakistan observes day of mourning to honor Iranian President Ebrahim Raisi

ISLAMABAD, Pakistan: Prime Minister Shahbaz Sharif has announced that Pakistan will observe a day of mourning and the flag will fly at half-mast as...