The federal government also decided to regulate digital and virtual currency accounts. According to the website 'ProPakistani', the Securities and Exchange Commission of Pakistan (SECP) has decided to create a regulatory framework for digital and virtual assets to prevent misuse of online currencies. The value of virtual currency in the world has been increasing over time and so far its value globally has exceeded 7 billion euros.
The SECP has prepared a document in this regard. This is the first time in Pakistan that a regulatory body has taken steps to bring digital and virtual assets under the purview of the law. According to the SECP, digital assets are the beginning of the era of digital finance. In the coming years, the movement of online currencies will become commonplace in the world, so we must be ready for it now. It is for this purpose that this initiative is being taken to manage digital assets.
