Cryptocurrency is the currency of the future and people are investing in cryptocurrencies as a golden sparrow but not everyone benefits from it. The people of Pakistan are also investing in it and according to the report, Pakistanis purchased cryptocurrency worth 5 Crore dollars in just six months.
These statistics show that Pakistan’s crypto market will increase because recently, A report “Cryptocurrency gains by country 2021 ” published by chainalysis states that Pakistanis made a profit of $604 million in cryptocurrency worth about 98 billion Pakistani rupees. The report is presented geographically and lists 50 countries, of which Pakistan is sadly at the bottom.
Crypto investors in the world earned about $162.7 billion in profit in 2021, which is many times more than in 2020. In 2020, due to Corona, there was a sharp decline in cryptocurrency’s profit, and only a $32.5 billion profit was seen.
Out of $162.7 billion, the United States topped the list with the highest profits at $47 billion, followed by the UK with $8 billion and Germany with $5 billion. Neighboring India is the 21st largest country in the market of cryptocurrency with a profit of 1.8 billion. The following is a list of 50 countries that make a profit from cryptocurrencies.
Despite the ban on cryptocurrency activities by the State Bank of Pakistan, Pakistan still stands in the field of cryptocurrency, which is a good thing. We can improve the corrupt currency in Pakistan by legalizing it.
According to a report, Pakistanis have more than 20 billion worth of virtual/corrupt assets, which is why Pakistan ranks third in the Global cryptocurrency Adoption Index.
The Federation of Pakistan Chambers of Commerce and Industry has also called for a national cryptocurrency strategy. ” There must be an appropriate regulatory framework for adopting a new financial ecosystem as soon as possible to protect the economic interests of the people and reduce the vulnerabilities of the new system,” the FPCCI said.
These are all things that lead us to legalize cryptocurrency in Pakistan and create a regulatory framework. 2021 has been a good year for the cryptocurrency and its investors, and we expect that Pakistan will be a bigger crypto market to grow in the future.
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