ChainCatcher news, the State Bank of Pakistan (SBP) announced a policy proposal on November 4 that, if approved, would legalize digital assets (such as cryptocurrencies) nationwide, making them legal tender. The proposal includes allowing the central bank to issue digital currency and imposing fines on unauthorized digital currency issuers. The proposal may also promote the adoption of digital payment services, including cryptocurrency trading.The policy proposal still requires further government approval, and if passed, could lay the groundwork for the launch of the CBDC digital rupee.It is reported that the Monetary Policy Committee had previously shown opposition to cryptocurrencies, but since the new SBP Governor Muhammad Aurangzeb took office in March 2024, there has been a shift in policy direction.

ChainCatcher news, the International Monetary Fund (IMF) has requested the Federal Board of Revenue (FBR) of Pakistan to impose capital gains tax (CGT) on cryptocurrency investments as one of the requirements for qualifying for a $3 billion bailout. The $3 billion assistance provided by the IMF aims to stabilize Pakistan's excessively inflated formal economy and prevent it from defaulting on its debts. If Pakistan agrees to these conditions, the IMF will disburse approximately $1.1 billion.

ChainCatcher news, according to Bitcoin.com, Pakistan will ban online services related to cryptocurrencies.It is reported that Pakistan's Minister of State for Finance Aisha Ghaus Pasha revealed during a meeting of the Senate Finance and Revenue Committee that the State Bank of Pakistan (SBP) and the Ministry of Information Technology have begun working on banning cryptocurrencies, stating that cryptocurrencies will never be legalized in Pakistan. (source link)

ChainCatcher news, NFT whale Deepak.eth claimed on Twitter that due to the eight-figure risk exposure of his project Chain Protocol as CEO on FTX, the project is currently facing liquidity issues. Therefore, he decided to sell a large number of valuable blue-chip NFTs to raise funds. Currently, Deepak.eth has listed all the NFTs for sale on his Twitter, indicating consideration for selling them in a package for 8000 ETH or at the highest price individually. (source link)