Pakistan Plans to Tax the Crypto Industry
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19 May

Pakistani authorities were preparing in January to ban all types of transactions with cryptocurrencies.

The corresponding document was prepared taking into account the position of the Central Bank of the country, which demanded the introduction of fines for violating this ban.

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However, opponents of these repressive measures also appeared in the government. For example, the country's Ministry of Finance called for regulating the sector as well as taxing it.

Representatives of the country's Ministry of Finance have held talks with the cryptocurrency sector and discussed options for interaction, Dawn has reported.

Pakistan's government is reportedly ready to legalize the industry and impose taxes on income received from transactions with digital assets.

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As an example, the country could focus on India, where a 30% tax has already been introduced on cryptocurrency traders since April.

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