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According to a report by Reuters, the Pakistani government will launch a pilot program to build Bitcoin and other cryptocurrencies mining farms. Power by two hydroelectric sources and based on the province of Khyber Pakhtunkhwa, the national program seeks to obtain revenues from the current rally in the crypto market. The advisor to the provincial government on science and technology, Zia Ullah Bangash said:Pakistan will also review its policies towards cryptocurrencies. As of now, the country’s legal and regulatory framework for this market has been hostile towards digital currencies. Therefore they have created the “KP Crypto Advisory Committee” to come up with a “new crypto policy”. Bangash said:The committee held its first meeting on March 17, the government Official announced via Twitter. Alongside Bangash, the meeting was conducted under the direction of the Chief Minister for the province, Mahmood Khan. Bangash claimed:Two subcommittees were formed during the meeting, the Blockchain and Technical Committee and a Coordination Committee. They will have the task of “assist and provide technical support for the main committee”, per Bangash report. The province of Khyber Pakhtunkhwa has favorable weather conditions for crypto mining activities. The government entity has called on crypto mining experts to weigh in on the subject by using a website enable by the committee. Bangash said:On December 2, the Khyber Pakhtunkhwa Assembly became the first province in Pakistan to passed a resolution to legalize cryptocurrencies and crypto mining. Waqar Zaka, Chairman for the Technology Movement Pakistan, said the organization was working to extend the initiative to the entire country. In the region, India will soon ban all trading activities related to cryptocurrencies. However, as a new study shows, the government’s action has not affected overall interest in digital assets.
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