News with the tag "pakistan"

Pakistan has established the Pakistan Virtual Asset Regulatory Authority (PVARA) to oversee its rapidly growing digital assets ecosystem, with notable advisors like CZ and Michael Saylor, amid a backdrop of 40 million crypto users and $300 billion in annual trading volume.

The IMF rejected Pakistan's proposal to subsidize power for crypto mining, citing concerns over market destabilization and historical imbalances, despite Pakistan's surplus energy capacity.

The IMF has blocked Pakistan's plans to subsidize electricity for Bitcoin mining, citing concerns over energy pricing discipline and potential economic risks, while Pakistan continues to pursue its ambitions to become a crypto hub.