Pakistan Financial News

Operating in stealth mode over the past few months, Luno Expeditions has already invested in over 20 crypto and fintech companies, including a crypto compliance solution in Israel, an NFT marketplace in the United States, a bank dedicated to women in Pakistan and a remittance outfit in Tanzania.Marcus Swanepoel, Luno co-founder and CEO comments: “We know how hard it is to build a company, especially in the fintech space, and with our deep experience building, scaling and operating fintech businesses in some of the hardest markets in the world, we’re looking to support a new generation of entrepreneurs from all over the world do the same.”

An intergovernmental organization dedicated to combating money laundering and illicit cash flows on Friday placed the United Arab Emirates on its «gray list» over concerns that the Gulf country isn't sufficiently stemming illegal financial activities.

DUBAI, United Arab Emirates — The Financial Action Task Force, an intergovernmental organization dedicated to combatting money laundering and illicit cash flows, is set to put the United Arab Emirates on its «gray list» over concerns that the Gulf country isn't sufficiently stemming illegal financial activities.

It’s no secret that crypto has a gender problem – and a big one. Women’s representation in the crypto industry, be it in tech or entrepreneurial roles, is still lacking. What’s more, investors are also in the same boat. However, a new survey suggests that crypto’s gender gap could be slowly closing. But the question remains, is the USA the right place to study this?

India has the second highest cryptocurrency users in the world, according to a report by Chainanalysis

A London café, owned by a Pakistani man, accepts cryptocurrency as a form of payment, the first to do so in the United Kingdom.

crypto exchanges and trading platforms have launched promotional campaigns to lure investors. These campaigns are aimed at attracting investors to support declining trading volumes amid steep fall and rising regulatory concerns. ETMarkets.com reached out to various exchanges seeking out information about their giveaways for the crypto users. Here is the complete information about offerings of all the exchanges:OKXThe second-largest crypto exchange in the world, OKX, is set to give away $3 million as a part of the Asia Lunar New Year promotion for participants from Asian countries.

Bitcoin, the most active cryptocurrency, recovered nearly 15 per cent to trade at $37,600 levels at the time of this article. Bitcoin, along with many other cryptocurrencies, had a fantastic yet volatile run in 2021, hitting all-time highs.Negative sentiments prevailed The price correction was imminent to test the support levels. Despite some bargain buying at lower levels by both institutions and retailers, many remained on the fence due to the overall negative sentiments in the financial markets.

In 2021, the number of global crypto holders has been estimated to have increased by 3.9% to more than 300 million crypto users worldwide, with more than 18,000 businesses already accepting cryptocurrencies as payment. India is currently in the lead with 100 million users, followed by the United States with 27 million users and Russia with 17 million users.

Last week, Pakistan’s Sindh High Court held a hearing on the legal status of digital currencies that might lead an outright ban of cryptocurrency trading combined with penalties against crypto exchanges. Several days later, the Central Bank of Russia called for a ban on both crypto trading and mining operations. Both countries could join the growing ranks of nations that moved to outlaw digital assets, which already include China, Turkey, Iran and several other jurisdictions.

Considering cryptocurrency to be "a tool for money laundering", the Karachi-based Federal Investigation Agency (FIA) recently announced its intention to clamp down on cryptocurrency dealers in Pakistan.

The National Cyber-Forensics and Training Alliance (NCFTA), an American non-profit, onboarded its first crypto firm Binance to aid their ongoing battle against cybercrimes. 

Last week saw an unlikely first move in the opening narrative battle around a prospective U.S. central bank digital currency: Congressperson Tom Emmer came forward with an initiative to legally restrict the Federal Reserve’s capacity to issue a retail CBDC and take on the role of a retail bank. This could be massively consequential as we are yet to see a similarly sharp-cut expression of an opposing stance. As a matter of fact, it is not even clear whether other U.S. lawmakers have strong opinions on the matter other than, perhaps, condemning privately issued stablecoins as a digital alternative to the dollar. By framing a potential Fed CBDC as a privacy threat first, Emmer could tilt the conversation in the direction that is friendly to less centralized designs of digital money.

Arif Alvi, currently serving as the president of Pakistan, called for additional training in emerging technologies including blockchain, artificial intelligence, and cybersecurity while meeting with a delegation of blockchain technology experts.

Two teenagers have been arrested in the UK as part of the investigation into a hostage-taking incident in a Texas synagogue, authorities have confirmed.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Switzerland took another step to clarify the roadmap for integrating central bank digital currencies (CBDC) into the current financial system. 

The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan.

Pakistan's Federal Investigation Agency (FIA) reportedly issued a formal notice to crypto exchange Binance in an effort to identify links around a multi-million crypto scam in the region. 

Europe is once again seeing a surge of COVID-19 cases — here is our summary of the measures being taken across the continent.

Nasir Hayat Magoon, The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has stated that Pakistani citizens have a combined crypto assets value of $20 billion.