Regulating crypto

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture. — Reuters/File
Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture. — Reuters/File

Borderless, open-sourced, volatile and decentralised — crypto is fast-paced and constantly evolving. These aren’t just buzzwords; they define a technology that challenges the very foundations of traditional financial systems.

The question that looms large is: how do you regulate something designed to resist control and defy regulation while growing faster than our ability to legislate around it?

For years, Pakistan warily watched as the global crypto revolution surged ahead — sceptical and silent. In 2018, the State Bank of Pakistan (SBP) issued a…

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