Pakistan

Auto Added by WPeMatico

Exchanges Roundup: UK MP Quits Ironx After Four Days, Daily OTC Volume Estimated at $250M

by

In recent news regarding cryptocurrency exchanges, a member of the British Parliament has quit his role with a cryptocurrency exchange just four days after joining the company, analysts have estimated the daily volume of the over-the-counter (OTC) cryptocurrency markets to be $250 million, and Poloniex’s new terms of use have banned residents of Germany, China, Pakistan, … Read more

Economic Uncertainty in Pakistan Seemingly Fuels Demand for Bitcoin

by

Even though cryptocurrency exchanges are the most convenient way to obtain Bitcoin and altcoins, other solutions exist. Peer-to-peer trading platforms, such as LocalBitcoins, have always been of great value to speculators. In Pakistan, the LocalBitcoins volume has been increasing for several weeks now. It seems the country’s uneasy financial situation may have a lot to … Read more

Exchanges Round-Up: CME Rejects Altcoins, Waves DEX Hacked on Launch

by

In recent news pertaining to cryptocurrency exchanges, the CEO of Chicago Mercantile Exchange (CME) has indicated that the company has no intentions of introducing derivative markets for alternative cryptocurrencies in the near futures; Waves’ decentralized exchange was hacked upon launch; and the founder Pakcoin has attributed Pakistan’s slow rate of cryptocurrency adoption to low literacy … Read more

Pakistanis Find Ways to Trade Bitcoin Rendering Ban Ineffective

by

The crypto ban in Pakistan is proving to be not as effective as expected. If anything, the State Bank has barred commercial banks and financial firms from dealing in cryptocurrency which, of course, makes life harder for local exchanges. Individual traders, however, are finding alternative ways to acquire or sell cryptocurrencies, defying the warnings and … Read more

P2P Trade Spikes in Canada Amid Bank Restrictions on Crypto Transactions

by

The volume of P2P bitcoin trade in Canadian dollars has increased significantly since leading banks in the country imposed bans on crypto-related transactions. Toronto-Dominion Bank, the Royal Bank of Canada, and more recently the Bank of Montreal have limited or prohibited the use of their services and products to acquire cryptocurrencies. As a result, the … Read more

Pakistan’s Urdubit Exchange Shuts Down After Crypto Ban

by

Urdubit, a leading Pakistani bitcoin exchange, has closed down permanently. The news came after the central bank of Pakistan announced a ban on dealings with cryptocurrencies. The trading platform urged customers to withdraw their funds “as fast as possible”. Its team confirmed on social media its operations had been suspended due to the prohibition of … Read more

Pakistan’s Central Bank Prohibits Crypto Dealings with a Circular

by

The State Bank of Pakistan (SBP) has issued a circular on the “prohibition of dealing in virtual currencies”. The measure comes right after a similar move by the central bank of neighboring India. Commercial banks and payment providers have been told to stay away from crypto operations. They should not facilitate transactions of virtual currencies … Read more