TechFlow news, March 20 — According to Bloomberg, Pakistan is planning to create a legal framework for cryptocurrency trading in an effort to attract international investment.
Bilal bin Saqib, CEO of the Pakistan Cryptocurrency Council, said: "Pakistan is no longer standing on the sidelines. We want to attract global investment because Pakistan is a low-cost, high-growth market, with 60% of its population under the age of 30. We have local talent ready to build Web3." Saqib added that he aims to position Pakistan as the cryptocurrency hub of South Asia, competing with Dubai, Singapore, and Hong Kong for leadership in the blockchain sector.
Notably, Pakistan's central bank previously issued warnings regarding cryptocurrencies. This policy shift may indicate the country’s intent to attract foreign capital and improve its investment climate by developing its cryptocurrency industry.
