Pakistan agrees to make crypto legal currency, decides to establish Bitcoin reserve

Las Vegas: Pakistan Crypto Council Head Bilal Bin Saqib has said that Pakistan has changed its stance on not making crypto legal tender, and the government is establishing a Bitcoin Strategic Reserve, following the US.

Addressing the Bitcoin Conference in the US city of Las Vegas, Crypto Council Head Bilal Bin Saqib stated that Pakistan established a ‘National Crypto Council’ in February to attract foreign investment and for cryptocurrencies.

He added that Pakistan is adopting crypto regulatory policies and has established the ‘National Crypto Council’ to develop a comprehensive regulatory framework.

The head of the Crypto Council further said that Pakistan has changed its stance on not making crypto legal tender. Pakistan has followed the US in establishing a Bitcoin Strategic Reserve and is moving forward to establish a Strategic Bitcoin Reserve.

Bilal bin Saqib also stated that it was announced to allocate 2,000 megawatts of additional energy for Bitcoin mining and high-performance computing data centers.