How crypto world made inroads in Pakistan | The Indicator

Pakistan has reversed its long-running crypto ban and is now trying to regulate digital assets instead of blocking them. The show says the country barred financial institutions from dealing in crypto in 2018 over concerns about money laundering and terror financing, then lifted the ban this year after creating an advisory body and a crypto regulator to screen and license approved companies.

The episode argues that the timing of Pakistan’s pivot may be political as well as economic. Analysts see the shift as happening around the same time Donald Trump renewed his promotion of crypto, and they think Pakistan’s leaders may be trying to win favor with the Trump administration. Supporters inside Pakistan say crypto could reduce friction for freelancers and migrant workers sending money across borders, and could bring a large informal market into the open.

But the piece emphasizes that regulation may not settle the bigger dispute. Islamic scholars remain skeptical that cryptocurrencies like Bitcoin have intrinsic value, and a prominent cleric issued a fatwa discouraging their use. Even as Pakistan moves ahead with licensing, electricity for Bitcoin mining, and plans for a national Bitcoin reserve, the show suggests religious hesitation could still limit how far crypto spreads.