Pakistan is making a major shift in its approach to cryptocurrency with the launch of the Pakistan Crypto Council (PCC). This move signals a change from its previous skepticism, where digital assets were seen as a financial risk due to their potential use in illicit activities. Now, with over 20 million active crypto users and a booming digital economy, Pakistan is embracing blockchain technology to regulate and integrate it into its financial system.

One of the biggest reasons Pakistan is embracing crypto is its huge remittance market. Every year, Pakistanis living abroad send home around $35 billion. Right now, sending money internationally can be slow and expensive, with banks and other services charging high fees. Crypto can change this by making transactions faster, cheaper, and more efficient, allowing families to receive more money with fewer deductions.

Source: Coinpedia