Federal Minister Tariq Fazil Chaudhry told the National Assembly that cryptocurrency has been made regular to prevent its misuse in Pakistan. During the question of time, he made it clear that the government does not promote cryptocurrency or discourage it, emphasizing that it is not yet recognized currency in the country.
The Minister said that necessary rules are being introduced to prevent illegal activities and misuse associated with digital currencies. He added that the Prime Minister’s assistant auxiliary is monitoring all cryptocurrency issues to ensure a systematic and secure regulatory process.
Responding to a question from Mirza Akhtar Baig about the legal status of cryptocurrency and objections raised by the Financial Action Task Force (FATF), Tariq Fazl Chaudhry said the government was addressing all concerns through comprehensive rules.
He reiterated that all relevant questions and international compliance standards are being considered while finalizing the regulatory framework, and ensuring that Pakistan’s approach to cryptocurrency is in accordance with global financial and security principles.