Pakistan’s Crypto Strategy Gains Global Financial Significance

Pakistan has positioned itself prominently on the global financial stage by adopting a strategic approach to cryptocurrency. Utilizing crypto as a key economic tool, the country is gaining international recognition and strengthening its economic ties with major global powers like the United States.

On July 9, the President of Pakistan enacted an ordinance establishing the Pakistan Virtual Asset Regulatory Authority, a regulatory body dedicated to overseeing virtual assets. The government surprised the world by setting up this authority within just a few months, showcasing Pakistan’s commitment to advancing the crypto sector.

Global players such as Binance founder Changpeng Zhao have been included in Pakistan’s crypto initiatives. This collaboration has proven to be both a diplomatic and economic success for the country.

In contrast, India faces significant challenges in the crypto space due to Prime Minister Narendra Modi’s economic policies. The absence of clear regulations on cryptocurrencies has caused uncertainty among Indian investors. Despite repeated calls from the Indian Supreme Court for the government to establish a comprehensive crypto policy, the government has remained largely silent.

Furthermore, Modi’s tax policies have placed an additional burden on India’s crypto sector. The economic environment under Modi’s leadership has also led to the discouragement of hundreds of startups.

Meanwhile, Pakistan is advancing plans for Bitcoin mining and is preparing its economy for the future by creating a crypto reserve. This positions Pakistan as a strong voice globally in the crypto economy, unlike India.

Modi’s economic shortcomings have reportedly disappointed youth, investors, and technology experts in India. Pakistan, on the other hand, is leveraging cryptocurrency across economic, diplomatic, and energy sectors.

India’s banking sector remains influenced by traditional thinking, posing further risks to its economy, while Pakistan moves forward with modern crypto-driven strategies.

Read More: Pakistan Strengthens Crypto Ties with US After Key Meeting at White House