The governor of the State Bank of Pakistan stated that a digital currency pilot will be launched

ChainCatcher news, according to a report by Reuters, Pakistan's central bank governor Jameel Ahmad stated on Wednesday that the State Bank of Pakistan is preparing to launch a digital currency pilot and is finalizing legislation to regulate virtual assets, as the country intensifies efforts to modernize its financial system.

He discussed the monetary policy challenges in South Asia with the governor of the Central Bank of Sri Lanka, stating that the new law will lay the foundation for licensing and regulating the virtual asset industry, and the central bank has reached out to some technology partners. He emphasized that this emerging field presents both risks and opportunities, requiring careful assessment to manage risks and seize opportunities.

On the same day, Pakistan's Minister of State for Blockchain and Cryptocurrency Affairs stated that the government has approved the "2025 Virtual Assets Act," which will establish an independent agency to regulate the cryptocurrency industry.