Pakistan is going to legalise bitcoin trade
As news got spread,the premier intelligence agency of Pakistan has recommended to Finance Minister Asad Umar to legalise the trade of crypto-currencies, register around 5,000 crypto currency/Bitcoin exchanges/dealers, classify such coins as an ‘investment’ with all net gains to be taxed, establish a national task force to observer flow of transactions through crypto-currencies and bring this business into the proper tax regime.
The following approvals, way forward and countermeasures have been recommended:
- Declaration of Crypto-currencies as legal
- Registration of Crypto-currency exchanges and individuals
- Classification of Crypto currencies
- Develop a coordinated virtual currency strategy
- Monitoring of crypto-currencies
We expect regulations before july, or maybe atleast at the end of the year. Thanks for reading my post and dont go without appreciating it.
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