The Pakistani government is intending to regulate domestic cryptocurrency firms under new legislation. The government is likely to introduce Electronic Money Institutions (EMI) regulations as per the recommendations of the Financial Action Task Force (FATF).
FATF is an intergovernmental organization based in France that creates policies for combating money laundering and other threats to the integrity of the global financial system. It has reportedly been working on international regulations for cryptocurrencies.
Under the new regulations, EMIs would be required to obtain the appropriate license from the central bank to issue e-money for the purpose of digital payments.
While the FATF has cautioned international regulators about the probable illegitimate activities of for cryptocurrencies.
Pakistan’s new framework has yet to be released publicly, and specific requirements will need to be met before the country’s central bank, the State Bank of Pakistan (SBP), can ratify them.
The State Bank of Pakistan (SBP) is considering launching a digital currency by 2025, a report from Dawn has revealed. As per the Electronic Money Institutions (EMI) regulations, crypto firms are expected to abide by certain fundraising requirements, due diligence pertaining to the clients and also ensure the control points to safeguard their clients’ funds.
Currency Strength Index: FxWirePro's hourly BTC is at 164 (bullish), the hourly USD spot index is inching towards -45 level (bearish), while articulating at 13:36 GMT.
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex


Goldman AM Sees Strong Buyout Opportunities in Japan, South Korea and Australia
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
FxWirePro- Major Crypto levels and bias summary
Crypto Major Pair Action Bias: ETHUSD Bullish as BTCUSD, SOLUSD & XRPUSD Stay Neutral
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
Moldova Criticizes Russia Amid Transdniestria Energy Crisis
Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook
Stock Futures Dip as Investors Await Key Payrolls Data
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
European Stocks Rally on Chinese Growth and Mining Merger Speculation
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
ETHUSD Bullish Momentum: Follows BTC Above All EMAs, Buy Dips Near $1750 Targeting $2300
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 



