Bilal Bin Saqib, a regulator of cryptocurrencies in Pakistan, stated that regulating digital assets presents a significant opportunity for emerging markets. He emphasized that cryptocurrencies are no longer merely luxury or investment tools but have become essential financial instruments for the general public, facilitating greater financial inclusion. Cryptocurrencies like Bitcoin and Ethereum have revolutionized financial systems worldwide, especially in countries with weak traditional banking or limited access to financial services. Pakistan is actively working to establish a legal framework to regulate cryptocurrencies, ensuring investor protection and orderly growth of this new technology. Saqib highlighted that regulation will reduce risks, increase transparency and trust in the crypto market, and ultimately benefit the national economy. This move is expected to connect Pakistan’s youth with modern financial technology and generate new employment opportunities. Globally, growing acceptance and legal recognition of cryptocurrencies have prompted many countries to align their economies with digital currencies. Pakistan is following this trend with government initiatives aimed at enhancing financial inclusion and creating new investment opportunities. However, due to the volatility and security concerns inherent in cryptocurrencies, users and investors must remain cautious. The legal framework seeks to mitigate these risks, making cryptocurrencies a safer and more stable financial resource.
Source: coindesk
