KARACHI – State Bank of Pakistan (SBP) on Friday declared Virtual Currencies like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond etc illegal in Pakistan.
In a statemnet issued on Friday, the central bank avised the general public that domestic and international payment and money transfer services in Pakistan are regulated by SBP under the applicable laws. In this regard, no entity is currently licensed or authorized by SBP to offer money remittance services and products in Pakistan using Virtual Currencies, Coins and Tokens.
It further directed the Banks, DFIs, Microfinance Banks and Payment System Operators (PSOs), Payment Service Providers (PSPs) not to facilitate their customers/account holders to transact in Virtual Currencies.
It further warned that persons using virtual currencies for the purpose of transferring value outside Pakistan are subject to prosecution as per applicable laws.
DUBLIN: The Republic of Ireland is looking to amend the law to allow the return…
MOSCOW (CNN): A pair of Russian journalists have been detained on “extremism” charges and face…
Yossi Mekelberg Following the first direct military confrontations between Israel and Iran, which have taken…
Dr. Azeem Ibrahim For decades, the plight of women in Afghanistan has served as a…
Borge Brende Today’s most pressing challenges — as well as the future’s most promising opportunities…
This website uses cookies.