The State Bank of Pakistan and the federal government have prohibited the use of all cryptocurrencies in Pakistan. The SHC has been hearing a case related to digital currencies. The central bank has taken a clear position on cryptocurrencies. Moreover, it urged the SHC to ban cryptos and penalize crypto exchanges for the first time.
Cryptocurrencies have been in flux in Pakistan because no laws or rules have been established to regulate their use for trade. The court ordered the government to form a committee under the federal secretary of finance to determine whether cryptocurrencies are legal.
Source: Samaa tv