Pakistan is considering to legalize virtual assets, including crypto which were banned under State Bank of Pakistan's banking policy and regulations department’s circular No. 3 of 2018, reported 24NewsHD TV channel.
This proposal was considered in the first board meeting of Pakistan Virtual Asset Regulatory Authority (PVARA) which was held in Islamabad on Tuesday.
According to State Bank of Pakistan Circular, Bitcoin, Litecoin, Pakcoin, Dicecoin and Pay Diamond are illegal. Now the federal government is planning to give permission for buying, selling, exchanging or investing in virtual currencies. After the withdrawal of the circular, restrictions on banks, payment system operators, and payment service providers will be removed.