Friday, July 30, 2021
Home Crypto News Market Two State-Backed Crypto Mining Farms Launched In Pakistan

Two State-Backed Crypto Mining Farms Launched In Pakistan

- Advertisement -

In the Pakistani province of Khyber-Pakhtunkhwa, two mining farms with state support have been launched. This is one of the first precedents of state funding of cryptocurrency mining.

Read: Gemini Trust Supports Arsenum Investments To Apply For Bitcoin ETF In Canada


Ziaulla Bangash, an adviser to the Khyber Pakhtunkhwa Minister for Information Technology, said the province recently passed a law allowing such operations. A law has also been passed allowing individuals to issue and hold their cryptocurrencies.

Read: A Whale With $ 300 Million Invested In Crypto Releases Its Portfolio

The climatic conditions of the province favor Bitcoin mining as there are fairly high-altitude and cold area in Khyber Pakhtunkhwa. Last year, Bangash, together with members of the local legislative assembly, appealed to the central authorities of Pakistan to legalize Bitcoin mining and allow citizens to own digital currencies.

In November 2020, it was reported that the Securities and Exchange Commission of Pakistan (SECP) has prepared a consultation document on the regulation of cryptocurrencies in the country. SECP defines several types of digital assets, separately allocating tokens-shares and utility tokens.

- Advertisement -
Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade, and write on cryptocurrencies. My basic aim is to provide genuine information to cryptocurrencies readers because crypto is filled with frauds and scams. True information is very rare to get. So I will be providing accurate information about cryptocurrencies topics, that users can trust.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Michael Saylor “Bitcoin Is Digital Real Estate And Is Now Held By More Than 114 Million People, Making It The Most Widely Held Financial...

Microstrategy CEO Michael Saylor always shows that he is a faithful supporter of Bitcoin. Microstrategy currently holds 105,085 BTC. Michael Saylor is among the...

Bitpay Adds Support For Litecoin And Newegg Becomes The First Merchant To Accept LTC Through Bitpay

BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced support for Litecoin in the BitPay Wallet app. Consumers can buy, store and...

Yoroi Wallet To Release Dapp Connector That Will Allow Interactions Between Users And Dapps On Cardano Blockchain

Cardano (ADA) smart contracts are coming soon and so is its infrastructure advancing. window.coinzilla_display = window.coinzilla_display ||...

Ethernity Chain to Drop NFT of NAS’s Performance in South Africa on the 20th Anniversary of the end of Apartheid

Johannesburg, South Africa, 29th July, 2021, Ethernity Chain is proud to announce another unique NFT collection is coming to its ecosystem. This aNFT (Authenticated...

Wall Street Bitcoin Adoption Continues As State Street The Second-Oldest Continually Operating United States Bank To Offer Crypto Services

State Street Corporation, an American financial services and bank holding company, headquartered in Boston with operations all over the globe to Offer Crypto Services...

57,000 Bitcoin Left Crypto Exchanges In 24 Hours Showing Bullish Sentiments Along With 465,000 Bitcoins Transferred Between Coinbase And Unknown Wallets

BTC saw the largest outflow of funds in one day from crypto exchanges. Nearly 57,000 bitcoins were left crypto exchanges.  ...

According To PayPal CEO, Paypal Crypto Super App Is Code Complete And Will Launch Soon

PayPal, World Top payment provider company, has stated that its users will not need to wait longer for great crypto functionalities app coming soon.

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly