Cryptocurrency Neither Promoted Nor Recognized in Pakistan: Federal Minister

Federal Minister Tariq Fazal Chaudhry informed the National Assembly that cryptocurrency is being regulated in Pakistan to prevent its misuse. During the question hour session, he clarified that the government neither promotes nor discourages cryptocurrency, emphasizing that it is not yet a recognized currency in the country. The minister said that necessary regulations are being introduced to curb illegal activities and misuse associated with digital currencies. He added that the Special Assistant to the Prime Minister is overseeing all matters related to cryptocurrency to ensure a structured and secure regulatory process. Responding to a question from Mirza Ikhtiar Baig regarding the legal status of cryptocurrency and objections raised by the Financial Action Task Force (FATF), Tariq Fazal Chaudhry said the government is addressing all concerns through comprehensive regulations. He reiterated that all relevant questions and international compliance standards are being carefully considered while finalizing the regulatory framework, ensuring that Pakistan’s approach to cryptocurrency aligns with global financial and security norms.