### The finance minister of Pakistan, Aisha Ghaus Pasha, has made it clear that cryptocurrency will continue to be illegal in the country, firmly cementing the government's position. Pasha emphasized that Pakistan has no plans to change its stance on cryptocurrency services, signaling a resolute commitment to the ban.

The decision is linked to the requirements set by the Financial Action Task Force (FATF), an international finance watchdog. The FATF conditionally mandates that Pakistan keeps cryptocurrency off its "Grey List," which comprises nations that struggle to combat money laundering and terrorism financing but show some progress in addressing these concerns.



CoinDesk reports that Pasha directed the State Bank of Pakistan (SBP) and the Ministry of Information Technology to collaborate on enacting the ban. The SBP initially announced its intention to outlaw cryptocurrency in January 2022.



The move demonstrates Pakistan's determination to align with the international community's financial regulations. By taking a strict stance against cryptocurrencies, Pakistan aims to bolster its efforts to combat illicit financial activities.



Grey-listed countries like Pakistan have begun addressing the issues flagged by the FATF, albeit with room for improvement. In coordination with the Ministry of Information and Technology, the SBP is reportedly working on drafting legislation to enforce the prohibition.



Pakistan's decision reaffirms its commitment to financial integrity and raises questions about the future of cryptocurrencies in the country. As the global landscape of digital currencies evolves, Pakistan remains resolute in its resolve to keep crypto off its shores.

The finance minister of Pakistan, Aisha Ghaus Pasha, has made it clear that cryptocurrency will continue to be illegal in the country, firmly cementing the government's position. Pasha emphasized that Pakistan has no plans to change its stance on cryptocurrency services, signaling a resolute commitment to the ban.

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