ISLAMABAD:Finance Minister Muhammad Aurangzeb has announced that the government is working to improve regulations for digital investment, with crypto mining also under active consideration.
Addressing a ceremony, the minister stated that providing facilities to traders and investors is the government’s top priority. He revealed that an estimated 10 to 15 percent of the population is already engaged in digital business, a trend he expects to grow significantly in the future.
Minister Aurangzeb emphasized that while the digital economy is “cheap, fast, and transparent,” ensuring transparency in digital investments is crucial. This focus on strong regulations is partly to avoid future situations like Pakistan’s five-year stint on the FATF grey list.
In a significant reveal, the Finance Minister stated that the government is considering using the country’s surplus electricity for power-intensive operations like cryptocurrency mining and artificial intelligence (AI) data centers. The establishment of a Crypto Council and the Pakistan Virtual Asset Regulatory Authority are key steps in this broader plan for a regulated digital economy.
Also read:Federal govt forms committee to draft Crypto regulations
