Pakistan SEC Looking Into The Regulation Framework For Crypto
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The government in Pakistan is getting ready to work on a framework for regulating different digital assets including bitcoin.
Known as the SECP, the securities and exchange commission of Pakistan has recently released a consultation report that discusses the regulation of crypto. The 6th of November paper highlights the major concept and ideas for growing digital finance markets in Pakistan and particularly looks into the current regulatory frameworks that have been developed by other global entities.
On top of this, the securities commission of Pakistan went on to note that the cryptocurrencies the “start of a new era of digital finance.“
The government body further said that this new digital finance era “could only be possible by initiation of a new era that re-invents regulatory regime [or] measures as they are known to the regulators globally today.”
Interestingly, the commission went on to distinguish the numerous types of cryptocurrencies in the industry. They particularly highlighted security tokens and utility tokens going on to note that one of the key advantages to the former is the ability to fractionalise each asset. As a result of this, it can significantly enable benefits such as lowering barriers for investment for day-to-day investors but will also include transparency and improved liquidity.