Pakistan Creates Digital Assets Authority to Regulate Cryptocurrency Industry

Odaily News Pakistan's Ministry of Finance has approved the establishment of the Pakistan Digital Asset Authority (PDAA) as a regulatory agency dedicated to overseeing blockchain financial infrastructure. The agency will be responsible for regulating the licensing and operation of exchanges, custodians, wallets, tokenization platforms, stablecoins, and decentralized financial applications. Pakistan's Minister of Finance and Revenue Muhammad Aurangzeb said that the PDAA will be responsible for the tokenization of state-owned assets, government debt management, and utilizing Pakistan's surplus electricity through Bitcoin mining. (Cointelegraph)