Pakistan has announced plans to regulate cryptocurrencies in accordance with recommendations of the Financial Action Task Force (FATF). The regulations will be introduced immediately. Pakistan embraces digital currencies reluctantly Pakistan had previously taken a hard stance against cryptocurrencies, with the country’s central bank warning banks and other financial services providers against offering services that supported virtual currency transactions. In April last year, the State Bank of Pakistan (SBP) tweeted a reminder to the general public that it oversees and regulates domestic and international payment and money transfer services. The “Caution Regarding Risks of Virtual Currencies” tweet suggested a tough stance
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