Pakistan moves on to ban cryptocurrencies | OyeYeah News
Pakistan moves on to ban all kinds of cryptocurrencies!
SBP Deputy Governor Seema Kamil has submitted the 38-page report at the Sindh High Court (SHC) on Wednesday as the court heard the case about digital currencies.
A two-member bench headed by Justice Karim Khan Agha heard the case.
Following the development, it emerges that the State Bank of Pakistan and the federal government have decided to ban the use of all cryptocurrencies.
The report submitted at the court said that cryptocurrency is illegal and could not be used for trade.
The report stated that cryptocurrency is a virtual business that could be used to finance acts of terrorism and to launder money.
During the hearing, the Sindh High Court has ordered the report be sent to the finance and law ministries for a final decision on the legal status of the cryptocurrencies.
The next hearing of the case will be held on April 12.
On the other hand, petitioner Waqar Zaka, a crypto influencer, has pleaded with the court that cryptocurrencies be declared legal as a large number of Pakistanis were interested in them.
A minor earthquake struck in Karachi's Malir District on Wednesday evening. According to the National…
US President Joe Biden is reported to have signed four bills that also included a…
The United States has once again threatened Pakistan with imposing sanctions for signing new agreements…
Mohammad Rizwan and Irfan Khan have been ruled out of the last two T20Is against…
Hiba Bukhari and Danish Taimoor have been paired up again after 4 years for Geo…
A first look at 'Zard Patton Ka Bunn' starring Sajal Aly and Hamza Sohail leaves…
OyeYeah is an entertainment project powered by Alliancez Inc. We’re motivated to digging up fresh, authentic news. Oye Yeah does not work on rumors! We have all sourced news because we believe in bringing our readers the best. We have a vision and we’re striving hard to achieve it day in, day out!
Read More
