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#Pakistan Launches New #Crypto Regulatory Authority
Pakistan has established the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee the country's #DigitalAsset industry.
The new body will operate independently, focusing on licensing, monitoring and supervising virtual asset service providers.
PVARA aims to ensure compliance with international standards, including guidelines from the Financial Action Task Force (FATF).
Finance Minister Muhammad Aurangzeb has stated Pakistan "must regulate not just to catch up, but to lead" in creating a future-ready framework.
The move comes despite recent setbacks, including the IMF rejecting Pakistan's proposal to offer subsidized power for 
$BTC mining operations.
Pakistan had previously earmarked 2,000 megawatts of surplus electricity for $BTC mining and AI centers as part of its broader digital finance strategy.
