Pakistan’s approach to cryptocurrency is still unclear as both the State Bank of Pakistan (SBP) and the Ministry of Finance confirm that the ban on digital assets is still in place. This announcement comes as public interest in crypto grows and rumors swirl about possible government changes.
Mixed Messages Cause Public Frustration
Recent comments from officials and reports in the media suggested Pakistan might be open to reviewing its crypto ban. Despite this, the SBP and Finance Ministry made it clear no approval or legal framework has been given for crypto trading in the country.
An SBP spokesperson stated, “The State Bank has not given any license or approval to anyone to operate in cryptocurrencies.” The Finance Ministry backed this up, saying the main worries are money laundering, terror financing, and risks to the financial system.
Public and Industry Response
The renewed ban has met criticism from those in the tech and crypto spaces. They say the country is missing out on new ideas and investment that other countries are welcoming.
A fintech startup founder in Karachi shared, “We need clear rules, not sweeping bans. Our young talent is leaving for better opportunities because of old policies.”
