Pakistan’s Central Bank is planning to ban cryptocurrency
After the move of El Salvador to accept Bitcoin as a legal tender, the crypto culture has seen a tremendous expansion all over the world. But for the crypto sector of Pakistan, there is no good news.
The central bank of Pakistan is planning to ban all cryptocurrencies and exchanges. The State Bank of Pakistan has knocked on the door of the Sindh high court to ban all the cryptocurrency and crypto exchanges from the country.
As per the reports, the State Bank of Pakistan has termed bitcoin as unusable and illegal for trade purposes in their documents. Till now, the court has not announced its final stance against cryptocurrencies in Pakistan.
As per the Chain analysis data, Pakistan ranks third in the top 10 countries in terms of the highest numbers of crypto users.