Is crypto legal in Pakistan?
Cryptocurrency is heavily restricted in Pakistan.
Southern Asia · PK · 6 of 9 dimensions sourced
Pakistan crypto policy at a glance
Stage of the central bank digital currency programme — research, pilot, or launched.
Whether crypto is legal, restricted, or banned for individuals and businesses.
“All Banks, DFIs, Microfinance Banks and Payment System Operators/Payment Service Providers have been advised not to process, use, trade, hold, transfer value, promote and invest in Virtual Currencies/Coins/Tokens.”
Whether the jurisdiction licenses crypto/VASP service providers.
“All Banks, Development Finance Institutions, Microfinance Banks and Payment System Operators/Payment Service Providers have been advised to refrain from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies/coins/tokens. No regulatory framework has been issued for licensing or registration of virtual currency exchanges or virtual asset service providers in Pakistan.”
Rules governing stablecoin and e-money-token issuance.
How crypto gains are taxed and reported, including OECD CARF participation.
How decentralized finance (DeFi) is treated by regulators.
“The SBP has not issued any specific regulatory framework for crypto-currencies and DeFi.”
Whether NFTs are addressed in regulation.
“All banks, DFIs, Payment System Operators (PSOs) and Payment Service Providers (PSPs) are advised to refrain from processing, using, trading, holding, transferring value, promoting and investing in virtual currencies/tokens… Till date, no virtual currency/initial coin offering (ICO) has been approved or licensed by SBP.”
Policy toward crypto mining — permitted, restricted, or banned.
Intensity of regulatory enforcement actions against crypto firms.
“The public is hereby warned to refrain from investing in unauthorized schemes including Ponzi, multi-level marketing and pyramid schemes and schemes involving virtual currencies, tokens and digital assets, which are not registered or regulated by the SECP.”
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