Sindh High Court seeks SBP’s response on cryptocurrency ban

Syed Umarullah HussainiWeb Editor

30th Sep, 2020. 12:12 pm

The Sindh High Court (SHC) on Wednesday has sought details of the ban on the cryptocurrency in Pakistan.

According to the details, Justice Muhammad Iqbal Kalhoro heard the petition regarding the ban on digital currency.

In his remarks, Justice Muhammad Iqbal Kalhoro questioned about not using digital currency in the current era.

The court also expressed anger at the State Bank of Pakistan for not allowing cryptocurrency. Justice Muhammad Iqbal Kalhoro remarked that the world has come a long way in modern technology and we stand still in old ages.

Judge asked why the cryptocurrency is circulating all over the world and only banned in Pakistan.

The SBP lawyer told the court that there is no ban on the corrupt currency in Pakistan, but it has not been regularized.

The court has sought details on international law on cryptocurrencies.

The High Court on November 5 also sought details from the federal government, the State Bank, and the FIA.

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