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What are the changes in Pakistan's cryptocurrency?
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Changpeng Zhao announced that he has joined the Pakistan Crypto Council as a strategic advisor. This move not only highlights Changpeng Zhao's influence in the global cryptocurrency industry, but also heralds a milestone for Pakistan in the field of cryptocurrency. As the official strategic advisor to the PCC, Changpeng Zhao will provide guidance on regulatory frameworks, infrastructure, education and application promotion, and work closely with the Pakistani government and the private sector to jointly build a compliant, inclusive and globally competitive crypto ecosystem.
Muhammad Aurangzeb, Pakistan’s Minister of Finance and Chairman of PCC, said, We are sending a clear signal to the world that Pakistan is opening its doors to innovation. With CZ joining us, we will accelerate our vision of making Pakistan a regional powerhouse in Web3, digital finance, and blockchain-driven development.
Crypto regulation in Pakistan is currently in the transition stage from prohibition to exploration of regulation. Although the law is still unclear, the government's easing of attitude, the establishment of the National Cryptocurrency Committee, international cooperation, and the high adoption rate among the public indicate that the country may soon introduce a clearer policy framework.
In recent years, Pakistan has seen significant growth in cryptocurrency adoption, driven primarily by economic instability, currency devaluation, capital controls, and a young population with a high level of digitalization.
Cryptocurrency has the potential to become a powerful tool for Pakistan to fight inflation and optimize cross-border payments. In addition, the country's young and digitally inclined population structure provides a natural advantage for the promotion of cryptocurrency and Web3 technology. The establishment of the Crypto Commission may accelerate this process through education and infrastructure construction.
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