Pakistan Establishes Digital Assets Authority for Cryptocurrency Regulation

Pakistan has established the Pakistan Digital Assets Authority (PDAA) to regulate the burgeoning cryptocurrency market within its borders. This significant step aims to formalize the informal $25 billion crypto industry and attract foreign investment. The PDAA, overseen by the Finance Ministry, will focus on ensuring user protection and fostering innovation in Web3 technologies. The move comes as the country seeks to align with global trends and comply with international standards like FATF requirements. Changpeng Zhao (