The government of Pakistan’s Khyber Pakhtunkhwa province has announced the launch of two mining farms for Bitcoin production. The new development is the first time the government is making a bold pro-crypto move, especially since Pakistan is known to be quite tough on cryptocurrency.
According to a Pakistani news report, the announcement was made by the province’s Chief Minister on Information Technology, Ziaullah Bangash. According to Bangash, the government made the decision so it would be on par with other parts of the world, regarding the cryptocurrency sector. Speaking to the media, Bangash also said that the government has approved funds to create a digital currency. Already, the Khyber Pakhtunkhwa Assembly has passed a bill to the effect.
Bangash mentioned that the United States, Nigeria, China, the United Kingdom, India, and Canada are countries that are already way ahead regarding Bitcoin use. With its decision to fully enter Bitcoin mining, the government is poised to increase its revenue from the widely active cryptocurrency industry.
The government’s move to enter the mining sector is especially noteworthy, because Pakistan is known for its hard stance towards Bitcoin. Regardless of this stance, Pakistan may be willing to enter the sector, especially since Bitcoin has recently been quite bullish.
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