Tag: Pakistan

Top crypto news from the Middle East region over the last week (Nov. 25 – Dec. 1, 2022): OasisX: The Middle East going through a digital renaissance OasisX, the nascent curated multichain non-fungible token marketplace, aims to drive the adoption of NFTs in the MENA region and embrace Web3 in several ways integrating NFTs, blockchain,…

Fasset, a crypto-asset gateway oriented to the Islamic world, is planning a major expansion, seeking to boost the adoption of cryptocurrencies in Indonesia and Pakistan, where it is still viewed with suspicion. The firm closed a $22 million Series A funding round led by Liberty City Ventures and Fatima Gobi Ventures, as well as regional…

Pakistani government and its central bank have recommended banning cryptocurrency, arguing in a document submitted in a provincial court that allowing it would cause capital flight. Reuters reported that an official report recommends declaring all cryptocurrencies illegal, citing local media. The Sindh High Court has been hearing a constitutional petition filed in 2019, which seeks…

Pakistan’s Federal Investigation Agency (FIA) has uncovered a cryptocurrency investment scam that allegedly cost Pakistani citizens about 17.7 billion rupees (about $100 million). Over the last month, many people in Pakistan complained to the FIA against at least 11 mobile applications which had stopped working over some time and allegedly defrauded their money. The notice…

The executive power will not oppose cryptocurrency investments, a high-ranking government official has told lawmakers in Pakistan. The statement comes as a regional high court has urged the federal government to regulate cryptocurrencies and formed a committee to look into the matter in the coming months. The ruling was issued by a two-judge bench presided…