In Pakistan, a province in Khyber Pakhtunkhwa passed a law that makes cryptocurrencies and mining legal in the region.
According to a Provincial Assembly (MPA) member, Dr. Sumera Shams, the move will enable the country to position itself better to compete favorably with the digitized world.
A few weeks ago, the Pakistani Securities and Exchange Commission set a motion to introduce a regulatory framework for cryptocurrencies. But it seems the government is trying to speed things up pretty quickly with the recent developments in the sector. Pakhtunkhwa tweeted,
Legalizing cryptocurrency will speed up its adoption
The KP parliament urges the Pakistani government to quickly approve the motion to ensure that the region is not left behind in the growing digital currency frenzy.
With the proactive steps, proponents of the policy think it will stay ahead of its neighbors regarding cryptocurrency adoption.