The launch of Pakistan Crypto Council (CPC) could announce a new era of innovation and economic potential. After years of flipflop and indecision on the legality and regulation of cryptocurrencies, Pakistan can now be considered among the most proactive countries in the world, adopting blockchain technology and digital assets so as to bring exponential gains, perhaps even positioning the country as a leader in the global digital economy.
By promoting a regulatory and innovation environment, the Council aims to create a framework that protects investors while nourishing the growth of the nascent cryptographic sector. This double approach – security regulation, while promoting corporate spirit – guarantees that Pakistan can take advantage of the advantages of Blockchain technology without compromising the integrity of its financial system.
Recent initiatives on the global cryptography market – massive water investment in the crypto exchange of the American president Donald Trump to set up a strategic crypto reserve – have already lent the increased digital currency of credibility. On this note, thoughtful crypto policies could also help reduce exchange pressure on the rupe, although any work of Slapdash can just as easily bring back.
In addition, despite its very touted security features, the crypto remains open to the use of criminal activities and has been at the center of several investment scams. Take, for example, the pieces even introduced by Trump and his wife, Melania. The Trump room has gone up to $ 74, but is now negotiated at only $ 12, wiping more than $ 12 billion on its market capitalization in a few days. Melania’s same corner was even more volatile, exceeding a market capitalization of $ 7 billion in January at only $ 375 million today.
Thus, although it is important for Pakistan to move forward with innovation in the field of digital finance, the emphasis must remain on consumer protection thanks to solid legal and compliance frameworks if we want to maximize the advantages for all Pakistanis, and not only people with education, capital and technical know-how to invest directly.
