Express
Pakistan Plans to Regulate Crypto Industry
Summary: According to The Express Tribune，the Pakistan government will establish regulations for the cryptocurrency industry. The government decided to use Electronic Money Institutions (EMIs) regulations following recommendations from the Financial Action Task Force (FATF). In order to get the license, EMIs must satisfy capital requirements, undergo scrutiny of executives, take measure to protect users’ funds and carry ...
According to The Express Tribune，the Pakistan government will establish regulations for the cryptocurrency industry. The government decided to use Electronic Money Institutions (EMIs) regulations following recommendations from the Financial Action Task Force (FATF). In order to get the license, EMIs must satisfy capital requirements, undergo scrutiny of executives, take measure to protect users’ funds and carry out customer due diligence. The regulations will help monitor and regulate the crypto industry, prevent the illicit use of cryptocurrencies.
