The State Bank of Pakistan to Withdraw its Warning on Cryptocurrency Trading

BlockBeats News, September 3rd, the Pakistani Ministry of Finance announced that the State Bank of Pakistan will withdraw its warning against cryptocurrency trading. The State Bank of Pakistan is working to launch a digital currency.

BlockBeats previously reported that on July 27th, Pakistani Minister of State for Cryptocurrency and Blockchain Bilal Bin Saqib stated that the country's demographic structure would drive Bitcoin adoption to achieve "leapfrog development," surpassing developed countries in this regard. Bilal Bin Saqib pointed out that Pakistan has 40 million crypto wallets, making it one of the top five countries globally in terms of cryptocurrency adoption rate. The country has a median age of 20 years, a total population of 250 million, with 70% of the population aged under 30. "Emerging markets will achieve leapfrog development in the adoption of these new technologies, and smaller countries are more likely to adopt Bitcoin."