Issues of Legislation of Cryptocurrency in Pakistan: An Analysis


  • Muhammad Arif Saeed Assistant Professor, Department of Law, The Islamia University of Bahawalpur, Pakistan
  • Muhammad Hassan Sial Lecturer, Department of Law, The Islamia University of Bahawalpur, Pakistan.



Cryptocurrency, legislation, Pakistan


Cryptocurrencies have been gaining popularity in Pakistan since 2015. However, in 2018, digital currencies were banned in Pakistan by the State Bank of Pakistan and the Federal Board of Revenue. The current paper will explore the issues of the legalization of cryptocurrencies in Pakistan. The study shares a brief description of international and national reviews about the trend of cryptocurrencies and their legality. There are various cryptocurrencies, including Bitcoin, Pakcoin, OKeX, Blockfolio, Crypto and KuCoin. By adopting the qualitative methodology, the researchers have analyzed the social media context, famous news websites and views of famous personalities involved in attempts to legalize and trend cryptocurrencies in Pakistan. It has been found in the study that there are various policy and legislative issues along with the consent of different governments of all provinces of Pakistan that declared cryptocurrency illegal and banned at different times. There is a need for some serious concerns regarding people's awareness of cryptocurrency to enhance the country's economy on practical grounds.