Pakistan creates Digital Asset Authority to regulate crypto
Pakistan’s Ministry of Finance has reportedly endorsed the creation of a dedicated body to regulate blockchain-based financial infrastructure in the country.
The Pakistan Digital Assets Authority (PDAA) will serve as a regulatory body to oversee licensing, regulate exchanges, custodians, wallets, tokenized platforms, stablecoins and decentralized finance applications, according to a May 21 report from the state-owned broadcaster, PTV.
Muhammad Aurangzeb, federal minister for finance and revenue, told the broadcaster, “Pakistan must regulate not just to catch up, but to lead” in the industry.
“With the PDAA, we are creating a future-ready framework that protects consumers, invites global investment, and puts Pakistan at the…
