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The Pakistani authorities plan to make money on the bull market of cryptocurrencies. Two experimental mining farms based on hydroelectric power plants will be established in Khyber Pakhtunkhwa
Details of the project have not yet been determined. However, the authorities expect that investments in cryptocurrency mining will fully justify themselves. And those who invest in cryptocurrency mining today will earn money and they will allow the region to get income.
It is worth noting that the legislative regulation of cryptocurrencies in Pakistan has not yet been defined. More precisely, there is a ban on cryptocurrency transactions in the country. It was adopted by the decision of the State Bank of Pakistan (SBP).
The progressive community is trying to put pressure on the regulator to soften the policy on cryptocurrencies. Looks like it's gone from a dead end in 2020.
An official of the Federal Court of Pakistan said that the country is losing in the cryptocurrency race because of the existing ban. The current decision to build mining farms is probably also due to the laws. Let's see what happens next.