Pakistan Establishes Digital Assets Authority to Regulate Cryptocurrency Industry

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