Pakistani authorities have decided to get into crypto mining. Two state-owned mining farms have recently been launched in Khyber Pakhtunkhwa province, according to local publication BOLNews.
Whereas Pakistan’s neighbour Iran, on the other hand, is increasing pressure on miners to obtain licenses and pay taxes, Pakistan has decided to make its own money from bitcoin mining. This is one of the few cases in the world where the state itself is getting involved in cryptocurrency mining, journalists noted.
Ziaullah Bangash, adviser to the Information Technology Minister, said the Khyber Pakhtunkhwa provincial government has decided to open the farms with the support of Pakistan’s central government.
In addition, regional officials have allowed locals to become miners without fear of prosecution by law enforcement agencies. Pakistani officials first announced their intention to legalise mining last year.
The expert community supported such a decision. In parallel, authorities announced legislation to legalise cryptocurrencies.