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Pakistan proposes amendments to legalize cryptocurrency

Pakistani government has proposed amendments to the State Bank of Pakistan (SBP) Act, signaling a potential shift in the country’s financial policy towards the legalization of cryptocurrencies.

The proposed changes would empower the SBP to issue digital currency and manage the nation’s currency in both physical and digital forms. Additionally, the amendments would grant the SBP the authority to conduct Central Bank Digital Currency (CBDC) operations, allowing CBDCs to function as legal tender.

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