SBP – DIGIT INFO

Pakistan Banks to Use Blockchain Technology for KYC

DIGIT — Mon, 06 Mar 2023 04:30:24 +0000

Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and self-regulated network. Banks of Pakistan Looking to Employ Blockchain for KYC Checks Pakistan Banks’ […]

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Uncollateralized Lending Platform Truefi Reveals $100 Million Single-Borrower Pool Designed for Blockchain.com

DIGIT — Mon, 25 Apr 2022 16:30:38 +0000

The crypto firm Blockchain.com has revealed it has secured up to $100 million in liquidity from Truefi’s single-borrower pool. The pool will be initially capped at $100 million over the first year and Blockchain.com aims to use the funds to bolster its own “liquidity pools, leverage trading support, and book of lending services.” Blockchain.com Leverages […]

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Pakistan’s Central Bank Sees Few Good Use Cases for Crypto Citing ‘a Lot of Misuses’ Worldwide

DIGIT — Wed, 09 Mar 2022 07:30:11 +0000

The central bank of Pakistan does not see many good use cases for crypto. However, the regulator cites “a lot of misuses” of cryptocurrency around the world, “including human rights violations, trafficking of people, money laundering, and many other things.” Pakistani Central Bank Governor’s Stance on Crypto The governor of the State Bank of Pakistan […]

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Pakistan Telecom Authority Asked to Block Over 1,600 Crypto Sites — Minister Says Government Intends to ‘Regularize’ Crypto

DIGIT — Thu, 20 Jan 2022 06:30:47 +0000

The Pakistan Telecommunication Authority has been requested to ban more than 1,600 crypto websites by the Federal Investigation Agency (FIA). The action followed a complete crypto ban recommendation by the central bank, the State Bank of Pakistan (SBP). Meanwhile, the country’s science minister said that the government intends to “regularize” crypto in the country. Pakistan’s […]

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Pakistani Bank Asks Customers to Avoid Conducting Crypto Transactions

DIGIT — Tue, 18 Jan 2022 04:30:35 +0000

A major bank in Pakistan has reportedly asked its customers to avoid conducting cryptocurrency transactions. Bank Alfalah’s action came shortly after the State Bank of Pakistan, the country’s central bank, submitted a report to the Sindh High Court recommending a complete ban on cryptocurrency. Bank Alfalah Asks Customers to Avoid Conducting Crypto Transactions Pakistani Bank […]

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Pakistan Seeks to Block Websites Dealing in Cryptocurrency: Report

DIGIT — Sun, 16 Jan 2022 14:30:14 +0000

Pakistan’s Federal Investigation Agency (FIA) is reportedly seeking to block websites dealing in cryptocurrency. The decision followed a meeting the agency had with the State Bank of Pakistan (SBP) which recently recommended a complete ban on crypto. Pakistan’s FIA Reportedly Seeks to Block Cryptocurrency Websites Pakistan’s Federal Investigation Agency (FIA) is seeking to block websites […]

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Pakistan’s Central Bank Decides to Completely Ban Cryptocurrency: Report

DIGIT — Fri, 14 Jan 2022 04:00:00 +0000

The State Bank of Pakistan (SBP), the country’s central bank, has reportedly come to a decision to ban the use of all cryptocurrencies within the country. The central bank has also asked the Sindh High Court to ban “unauthorized operations” of crypto exchanges and impose penalties on them. Pakistani Interministerial Committee Recommends Banning Cryptocurrency and […]

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Pakistan Government Not Against Crypto Investments, High Court Calls for Regulations

DIGIT — Sat, 23 Oct 2021 02:30:30 +0000

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. Minister Says Pakistan Government Has No Objection to Investments […]

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Pakistanis Find Ways to Trade Bitcoin Rendering Ban Ineffective

DIGIT — Mon, 14 May 2018 01:18:56 +0000

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 […]

The post Pakistanis Find Ways to Trade Bitcoin Rendering Ban Ineffective appeared first on Bitcoin News.

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Pakistan’s Urdubit Exchange Shuts Down After Crypto Ban

DIGIT — Thu, 12 Apr 2018 11:55:48 +0000

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 […]

The post Pakistan’s Urdubit Exchange Shuts Down After Crypto Ban appeared first on Bitcoin News.

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