The SBP issued a formal notice last year advising the general public to be cautious of, and refrain from, trading cryptocurrencies.Īnnual crypto trading volume for Pakistan-based wallets is estimated to have hit $25bn The State Bank of Pakistan (SBP) doesn’t recognise crypto assets, which are digital currencies in which transactions are verified and recorded by a decentralised system. “My understanding is that the annual trading volume of cryptocurrencies for Pakistan-based wallets has gone up to $25 billion, up from $18-20bn a year ago,” said Zeeshan Ahmed, country general manager at Rain Financial, a Gulf-based trading platform for cryptocurrencies. KARACHI: If you’re a bank customer, chances are that it has formally warned you against using your debit or credit card for crypto trading.īut regardless of the sternly worded SMS that every bank sends out en masse every few weeks, cryptocurrencies are getting increasingly popular in Pakistan.
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