According to the research conducted by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), investors in the country 20 billion dollars worth of cryptocurrencies.
As reported by Business Recorder, FPCCI presented three research reports to the governor of Sindh state, Imran Ismail, as a result of its research on the cryptocurrency market, and made some suggestions for future steps.
Nasir Hayat, President of the Federation of Chambers of Commerce and Industry, announced that there is “$20 billion in crypto money” throughout the country.
In the reports submitted by the FPCCI, it is recommended to comply with the standards set by the Financial Action Task Force (FATF) and the International Monetary Fund (IMF) in the legal regulations to be brought for cryptocurrencies.
While it is recommended to prepare the legal ground for cryptocurrencies as soon as possible, it is recommended to give crypto money holders a one-time payment. notification requirement It was stated that the introduction of capital gains tax and the application of capital gains tax on them could contribute to the Pakistani economy.
In addition, the establishment of exchange-traded funds (ETFs) linked to cryptocurrencies both at home and abroad It is thought that it can attract investors and this will reflect positively on the local stock market.
Pakistan’s Information Minister, Fawad Chaudhry, recently stated that they have no plans to fully legalize the use of digital money for now.