#Breaking News:🛑
#Crypto to Enter Formal Economy Under Pakistan’s First Virtual Assets Framework
At the 27th ITCN Asia in Lahore, Advisor to the Finance Minister Khurram Schehzad announced that the newly established Pakistan Virtual Assets Regulatory Authority (PVARA) will integrate crypto holders into the formal economy, with a 15% capital gains tax and potential incentives under discussion.
To boost liquidity, the government plans to tokenize $2 billion of domestic debt in its first phase, specifically targeting retail investors.
Additionally, the state aims for 100% digital government-to-government (G2G) transactions and 120 million bank accounts by the end of 2026 to eliminate the "file culture" and enhance fiscal transparency.
Disclaimer: This post is for information, based on available reports.
