A man has filed a case in the Sindh High Court asking for the removal of the ban on digital currency in Pakistan. The petitioner has said that cryptocurrency will bring in more investment into the country. The State Bank of Pakistan, in its reply, has said that many people in the country aren’t educated because of which digital currency can be used to scam them. The trade of cryptocurrency may lead to money laundering.
China is all set to launch its own digital currency and by doing so, becoming the first country in the world to issue its Central Bank Digital Asset. The currency will be named DCEP (Digital Currency Electronic Payment), according to Huang Qifan, Executive Vice President of the China International Economic Exchange Centre. He also mentioned that People’s Bank of China (PBoC) has been working on rolling out the crypto currency for the past 5-6 years.