Adopting Cryptocurrency in Pakistan: An Analysis of Legal and Regulatory Approaches of Pakistan Comparable to Global Best Practices
Abstract
This article has examined the legal framework and status concerning cryptocurrency in Pakistan. It has highlighted the associated issues that Pakistan is facing like other developing countries. It has discussed the examples of other jurisdictions who have best standards and practices that are appreciable in regulating digital currencies and provides a crypto-friendly ecosystem. It highlights the necessity of recognizing and regulating cryptocurrencies in Pakistan. This study analyzes the situation of legal and regulatory framework of Pakistan and offer recommendations for reforms in the laws governing financial structures and cyber-crimes in Pakistan and suggested ways of promoting best practices by taking guidance and lessons from international standards and approaches.
Copyright Notice Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Copyrights for articles published in IJSSA journal are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author’s responsibility to bring an infringement action if so desired by the author.
