In brief
- Pakistan lifted an 8-year ban on crypto banking, allowing financial institutions to serve registered crypto firms.
- Banks can support crypto companies, but cannot trade or hold digital assets themselves.
- The shift follows partnerships with World Liberty Financial and Binance to expand crypto adoption in Pakistan.
Eight years after banning all banks from providing crypto services, Pakistan has officially greenlit the practice—a move poised to quickly facilitate the adoption of digital assets in the world’s fifth-most populous country.
In a letter issued this week, Pakistan’s central bank formally rescinded its prior crypto restrictions, which were instituted in 2018. The new pro-crypto policy is in line with the nation’s…
