In the Pakistani province of Khyber Pakhtunkhwa, two state-supported mining farms have been launched. This is one of the first precedents of government funding for cryptocurrency mining.
Ziaulla Bangash, Advisor to the Minister of Khyber Pakhtunkhwa, said that the province recently passed a law allowing such operations. A law has also been passed that allows individuals to issue their own cryptocurrencies.
The climatic conditions of the province favor bitcoin mining – this is a fairly high-altitude and cold area. Last year, Bangash, together with members of the local legislature, addressed Pakistan’s central authorities. They called on regulators to legalize bitcoin mining and allow citizens to own digital currencies.
In November 2020, it was reported that the Securities and Exchange Commission of Pakistan (SECP) prepared an advisory document on the regulation of cryptocurrencies in the country. SECP defines several types of digital assets, separately distinguishing stock tokens and utility tokens.