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Pakistani Province Will Build Two Pilot Crypto Mining Farms

The third-largest province of Pakistan, Khyber Pakhtunkhwa (KP), has officially created a federal committee that will design a new crypto policy that will include government-backed crypto mining.

The KP Crypto Advisory Committee has already ruled on the creation of two hydroelectric-powered crypto mining farms.

The committee held its first meeting yesterday, tweeted Zia Ullah Bangash, the advisor to the provincial government on science and technology: “The KP Government on the directions and guidance of chief minister Mahmood Khan is taking serious steps regarding cryptocurrency and mining. We’re consulting with all stakeholders and experts for this initiative.”

The KP Crypto Advisory Committee was created to analyze and debate the “necessary steps to regulate, legalize, and necessary legislation.” Waqar Zaka, a local crypto influencer and advocate, was a direct influence on the committee’s decision, declaring that it was him who convinced the local government to start the initiative: “I’m thankful to Waqar Zaka for his full cooperation and support to the KP government,” mentioned Bangash.

KP is the first province of Pakistan to create an advisory committee that targets crypto and mining. The province is working on convincing the central government to legalize crypto. In December 2020, it even passed a resolution that asked for legislative action on a federal level.

Crypto was banned by the State Bank of Pakistan in 2018 under the claim that Bitcoin is not a legal tender. But even with the ban, Pakistanis have continued to invest in crypto.

According to Bangash: “It’s really just our government that is not participating right now, people all over Pakistan are already working on this, either mining or trading in cryptocurrencies and they are earning an income from it.”

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