💰🇵🇰📊 Pakistan Moves to Legalise & Tax Cryptocurrency Under New Digital Finance Reforms

Pakistan’s Federal Board of Revenue (FBR) has initiated formal work on legalising and taxing cryptocurrency, marking a shift in the country’s approach to digital assets. The move comes as part of broader digital finance reforms, aiming to regulate the crypto sector, bring it under the tax net.

Key Points:

• FBR has begun consultations with tax and legal experts to draft crypto taxation frameworks.
• A new Virtual Assets Regulatory Authority (PVARA) has been set up to license and supervise crypto service providers.
• Judicial and regulatory pressure is accelerating the timeline, with courts urging the government to legislate swiftly.

✍️ This is a major step for Pakistan, potentially opening up new tax revenues and paving the way for regulated digital finance. While full legalisation hasn’t happened yet, these developments signal serious intent to bring crypto into the formal economy.

Sources: Dawn

@ThePulsePoint