The global cryptocurrency market is growing rapidly. Big business companies like PayPal are stepping into this market. Now Pakistan has also decided to enter this field.
The
government of the Pakistani province of Khyber Pakhtunkhwa plans to set up two
hydroelectric-powered pilots 'mining farms' to take advantage of the
global cryptocurrency market. The announcement of this new policy
regarding cryptocurrency in Pakistan has come at a time when cryptocurrency is gaining popularity all over the world. The price of a Bitcoin
is touching around 60,000$
while the richest people in the world like Elon Musk are investing in
it. In addition, large companies such as US Bank and Morgan Stanley
are making it possible for their clients to access bitcoins. Crypto-mining
farms require computer data centers and investments, as well as large amounts
of electricity.
Pakistan's new cryptocurrency policy
Pakistan has set up a federal committee to
formulate a crypt-currency policy. Pakistan's announcement of a crypto-friendly policy is in stark contrast to the policy of neighboring India, which
has recently signaled a complete ban on crypto-currency.
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