ISLAMABAD, November 4, 2024: The federal government has proposed amendments to the State Bank of Pakistan (SBP) Act that would allow dual nationals to serve as governors and deputy governors of the central bank.
In a significant shift, the amendments also aim to legalize the use of cryptocurrencies and digital currencies, including Bitcoin, within Pakistan. If approved by the federal cabinet and subsequently by Parliament, this could represent a major departure from the SBP’s traditionally cautious stance on digital assets, potentially designating them as legal tender.
A summary of these proposals has been submitted to the federal cabinet, signaling a new direction in the government’s financial policy.