Staff Reporters Karachi/Lahore
The Sindh High Court on Wednesday ordered the government to regulate cryptocurrencies within three months and form a high-level committee headed by the federal secretary of finance to look over the matter.
The SHC was hearing a petition challenging the ban on cryptocurrencies, and the proceedings were attended by members of the Federal Investigation Agency, State Bank of Pakistan and the petitioners.
During the hearing, the high court also called for a report on the matter in three months.
The court stated that steps should be taken to regulate cryptocurrencies in consultation with all stakeholders, including representatives of the Security and Exchange Commission of Pakistan, SBP, the Ministry of Law, and the Ministry of IT.
Another case related to cryptocurrencies was heard at the Lahore High Court, with lawyers for the parties, including the SECP, SBP, FIA, and the federal government appearing in court.
The court sought legal assistance from all the institutions on the matter and directed all the institutions to present legal points regarding the currency in the court after a meeting.
