Khyber Pakhtunkhwa (KP) Assembly has unanimously passed a resolution on legalizing cryptocurrencies and crypto-mining. With that, KP Assembly has become the first legislative assembly to have approved a resolution in the favor of cryptocurrencies in Pakistan.
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According to details, PTI MPA, Dr. Sumera Shams, introduced the resolution in the provincial assembly on Wednesday. The draft of the resolution states current trends suggest that digital currencies will replace paper currencies in the future.
Waqar Zaka also tweeted on the matter claiming that he had made the initial suggestion and worked with the lawmakers to legalize businesses related to crypto-currencies. He also announced to work with other provincial lawmakers and get similar approvals in the future.
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While several central banks around the world have registered and issued cryptocurrencies, many countries, including the US, have taken concrete steps towards introducing and legalizing cryptocurrencies.
Keeping these developments in view, the KP government calls on the federal government to register and officially introduce cryptocurrencies after enforcing necessary legislation, the draft concludes.
