Khyber Pakhtunkhwa dissolves committee on cryptocurrency

As per a local media outlet, a statement issued by the Khyber Pakhtunkhwa Department of Science and Technology said that the decision making power regarding digital currency rests with the federal government.

According to the statement, the final verdict on digital currency and cryptocurrency will be taken by the centre.

A month earlier, Advisor to KP CM on Science and Technology Ziaullah Bangash also resigned from his post.

“Submitted my resignation from post of Advisor to CM KP. Some unavoidable circumstances in my constituency have forced me to take this step. I have a lot of responsibilities and I want to keep up to expectations of people of my constituency & reserve my entire attention for them,” he wrote on Twitter.

It may be recalled that the Khyber Pakhtunkhwa government had planned to set up two hydropower-powered 'mining farms' to take advantage of the growing global cryptocurrency market.

The Khyber Pakhtunkhwa Assembly, after approving the resolution to form an advisory committee on cryptocurrency and mining sent recommendations to the Department of Science and Information Technology and directed the formation of an advisory committee.

Waqar Zaka also tweeted regarding him being hired as cryto expert:

I’m hired as a crypto expert by Government of Pakistan and I have decided not to charge a single penny and I will provide all my services for free - pic.twitter.com/TVAjtr12Ld

— Waqar Zaka (@ZakaWaqar) May 16, 2021

The Department of Science and Information Technology, Khyber Pakhtunkhwa then formed an advisory committee on cryptocurrency and mining.

The task of the Advisory Committee was to assist in the necessary initiatives, research and legislation regarding crypto mining and cryptocurrency.

Advisor on Science and Information Technology, Khyber Pakhtunkhwa Ziaullah Bangash was the chairperson of the committee while Minister for Finance and Health Taimur Saleem Jhagra was appointed senior Vice-Chairperson.