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Jakarta, Pintu News – The Pakistani government is taking a big step in the crypto mining industry by introducing a new favorable tariff. The initiative is being led by the newly formed Pakistan Crypto Council (PCC) and has involved various key officials, including Energy Minister Awais Leghari.
Previously, Pakistan had regulatory concerns over digital assets, but now they are looking to capitalize on the excess power capacity that was previously considered an economic burden. Finance Minister Muhammad Aurangzeb stated, “This is the beginning of a new digital chapter for our economy.
We are committed to building a transparent and future-ready financial ecosystem that attracts investment, empowers youth, and puts Pakistan on the global map as a leader in emerging technologies.” With special rates on offer, Pakistan has the potential to attract international mining operations looking for cost-effective locations.
Also Read: Why is Bitcoin (BTC) Following the 2024 Summer Trend? Check out the Next Prediction!
With the implementation of this new tariff, the crypto mining industry in Pakistan is expected to experience significant growth. The initiative was first presented in a meeting held on March 21, which was attended by several key figures such as State Bank Governor Jameel Ahmad and Securities and Exchange Commission Chairman Akif Saeed.
Crypto regulations in Pakistan are now being revisited as part of a broader shift to embrace blockchain technology and digital assets. The active involvement of key financial institutions demonstrates a well-coordinated approach in creating a supportive framework while addressing traditional concerns.
By offering special electricity rates, Pakistan could easily attract international mining operations that are constantly looking for cost-effective locations around the world. The crypto market from Pakistan could benefit from excellent timing that aligns with the long-term potential growth in the sector.
Consultations with stakeholders are ongoing, and the final tariff structure will determine how competitive Pakistan becomes in the international mining scene in the near future.
This new tariff initiative not only opens up great opportunities for miners within the country but also attracts interest from global miners. With this move, Pakistan is on track to become a key player in the global crypto industry.
Also Read: Lighter Tariff Hike Triggers Altcoin Surge: Solana, DOGE, and ADA Shine
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