Pakistan’s Khyber Pakhtunkhwa province to mine Bitcoin with state funds

Authorities of Pakistan’s Khyber Pakhtunkhwa province have decided to establish two mining ventures to mine Bitcoin, local media

According to Ziaullah Bangash, adviser to the Chief Minister for Information Technology, the regional government has already approved budget allocations for the project.

He noted that the provincial assembly passed the relevant law. Authorities also issued a separate act permitting private entrepreneurs to issue digital currencies without legal consequences.

The provincial government believes Pakistan should not fall behind in mining, Bangash added. He expects other regions of the country will follow their example.

According to the adviser, the leaders in cryptocurrency mining are the United States, followed by Nigeria, China, Canada, the United Kingdom and India.

In April 2018, the State Bank of Pakistan prohibited cryptocurrency operations, stating that they are not legal tender.

In December, the National Assembly of Pakistan appealed to the federal authorities to legalize ownership of digital assets and mining.

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